GBP/USD Intraday: capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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