EUR/USD: Caution
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Pivot (invalidation): 1.1255
Our preference
Short positions below 1.1255 with targets at 1.1225 & 1.1205 in extension.
Alternative scenario
Above 1.1255 look for further upside with 1.1275 & 1.1295 as targets.
Comment
The upward potential is likely to be limited by the resistance at 1.1255.
GBP/USD: Key resistance at 1.2565
Pivot (invalidation): 1.2565
Our preference
Short positions below 1.2565 with targets at 1.2510 & 1.2485 in extension.
Alternative scenario
Above 1.2565 look for further upside with 1.2590 & 1.2620 as targets.
Comment
As Long as the resistance at 1.2565 is not surpassed, the risk of the break below 1.2510 remains high.
USD/JPY: Under pressure
Pivot (invalidation): 107.05
Our preference
Short positions below 107.05 with targets at 106.70 & 106.50 in extension.
Alternative scenario
Above 107.05 look for further upside with 107.20 & 107.30 as targets.
Comment
As Long as the resistance at 107.05 is not surpassed, the risk of the break below 106.70 remains high.
This report has been prepared by Swissquote Bank Ltd and is solely been published for informational purposes and is not to be construed as a solicitation or an offer to buy or sell any currency or any other financial instrument. Views expressed in this report may be subject to change without prior notice and may differ or be contrary to opinions expressed by Swissquote Bank Ltd personnel at any given time. Swissquote Bank Ltd is under no obligation to update or keep current the information herein, the report should not be regarded by recipients as a substitute for the exercise of their own judgment.
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