GBP/USD Intraday: Capped by a negative trend line

EUR/USD

Turning up.

EURUSD


 

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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.

GBPUSD

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.

USDJPY

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.

This report has been prepared by AC Markets 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 AC Markets personnel at any given time. ACM 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.