GBP/USD Intraday: Capped by a negative trend line

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Under pressure.

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Pivot (invalidation): 1.1190

Our preference
Short positions below 1.1190 with targets at 1.1165 & 1.1155 in extension.

Alternative scenario
Above 1.1190 look for further upside with 1.1205 & 1.1225 as targets.

Comment
As Long as the resistance at 1.1190 is not surpassed, the risk of the break below 1.1165 remains high.

GBP/USD

Capped by a negative trend line.

Pivot (invalidation): 1.2820

Our preference
Short positions below 1.2820 with targets at 1.2770 & 1.2745 in extension.

Alternative scenario
Above 1.2820 look for further upside with 1.2850 & 1.2880 as targets.

Comment
A break below 1.2770 would trigger a drop towards 1.2745.

USD/JPY

The upside prevails.

Pivot (invalidation): 109.70

Our preference
Long positions above 109.70 with targets at 110.05 & 110.30 in extension.

Alternative scenario
Below 109.70 look for further downside with 109.50 & 109.35 as targets.

Comment
The break above 109.70 is a positive signal that has opened a path to 110.05.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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