GBP/USD Intraday: Under pressure
|EUR/USD
Bullish bias above 1.1135.
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Pivot (invalidation): 1.1135
Our preference
Long positions above 1.1135 with targets at 1.1180 & 1.1205 in extension.
Alternative scenario
Below 1.1135 look for further downside with 1.1115 & 1.1100 as targets.
Comment
A support base at 1.1135 has formed and has allowed for a temporary stabilisation. The RSI shows that the pair lacks downward momentum.
GBP/USD
Under pressure.
Pivot (invalidation): 1.2950
Our preference
Short positions below 1.2950 with targets at 1.2870 & 1.2835 in extension.
Alternative scenario
Above 1.2950 look for further upside with 1.2990 & 1.3025 as targets.
Comment
As Long as the resistance at 1.2950 is not surpassed, the risk of the break below 1.2870 remains high. The pair has crossed below a bullish trend line in place since October 14.
USD/JPY
Turning up.
Pivot (invalidation): 108.30
Our preference
Long positions above 108.30 with targets at 108.60 & 108.70 in extension.
Alternative scenario
Below 108.30 look for further downside with 108.15 & 108.00 as targets.
Comment
The RSI calls for a rebound. The pair has swung to the upper Bollinger band from the lower one.
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