GBP/USD Intraday: Capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

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.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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