GBP/USD Intraday: capped by a negative trend line
|EUR/USD
Key resistance at 1.1155.
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Pivot (invalidation): 1.1155
Our preference
Short positions below 1.1155 with targets at 1.1130 & 1.1110 in extension.
Alternative scenario
Above 1.1155 look for further upside with 1.1170 & 1.1185 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.1155.
GBP/USD
Capped by a negative trend line.
Pivot (invalidation): 1.3320
Our preference
Short positions below 1.3320 with targets at 1.3240 & 1.3200 in extension.
Alternative scenario
Above 1.3320 look for further upside with 1.3350 & 1.3380 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.3320.
USD/JPY
Supported by a rising trend line.
Pivot (invalidation): 109.45
Our preference
Long positions above 109.45 with targets at 109.70 & 109.85 in extension.
Alternative scenario
Below 109.45 look for further downside with 109.30 & 109.15 as targets.
Comment
A support base at 109.45 has formed and has allowed for a temporary stabilisation.
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