GBP/USD Intraday: Capped by a negative trend line
|EUR/USD
Turning up.
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Pivot (invalidation): 1.1295
Our preference
Long positions above 1.1295 with targets at 1.1340 & 1.1360 in extension.
Alternative scenario
Below 1.1295 look for further downside with 1.1275 & 1.1250 as targets.
Comment
The RSI calls for a new upleg.
GBP/USD
Capped by a negative trend line.
Pivot (invalidation): 1.3310
Our preference
Short positions below 1.3310 with targets at 1.3200 & 1.3145 in extension.
Alternative scenario
Above 1.3310 look for further upside with 1.3380 & 1.3415 as targets.
Comment
The RSI lacks upward momentum.
USD/JPY
Choppy.
Pivot (invalidation): 111.75
Our preference
Short positions below 111.75 with targets at 111.45 & 111.25 in extension.
Alternative scenario
Above 111.75 look for further upside with 111.90 & 112.00 as targets.
Comment
The RSI shows downside momentum.
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