GBP/USD: Intraday trade consolidative

Danske Research Team Danske Bank A/S

EUR/USD

Bounce from the 1.0700 level see pressure returning to the upside and the 1.0800 level now within reach. Above the latter will see scope to target the 1.0816 and 1.0851 resistance. Downside seen well protected with support starting at the 1.0700 level then 1.0686, recent high. [PL]

USD/CHF

Tracing out a top pattern at the 1.0205 high and setback below the 1.0100 level and 1.0080 support see deeper pullback to the 1.0050 low. Lower will see scope to the 1.0000 level then the .9956/50, May/Jul highs. Upside see resistance now at 1.0115 then the 1.0182/1.0205 highs. [PL]

USD/JPY

Rotating lower from the 114.83/78 highs though the downside still limited below the 114.00 level. Lower see the 112.88 support to watch and break here needed to trigger deeper pullback to retrace strong up-leg from the 101.20, Nov low. Lift above 114.83 high will see scope to the 116.00 level. [PL]

EUR/CHF

Remains in consolidation below the 1.0853 high though this is seen giving way to renewed strength later extend strong rebound from the 1.0698 low. Clearing the 1.0853 high will see rally to target 1.0864 and the 1.0900 level. Support now at the 1.0790 and 1.0753. [PL]

GBP/USD

Intraday trade consolidative and staying below the 1.2683 high set last session is still keeping pressure on the downside and slippage below 1.2570 support will trigger decline towards the daily support line at 1.2488. [W.T]

EUR/GBP

Extending rebound from the .8305 low which stands just above the 200- day MA at .8293. Above the .8500 level see scope to the .8578 resistance. Clearance will see stronger recovery to .8639 and .8708. Downside see support now at .8480 and .8407. [PL]

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Danske Research Team

Danske Bank A/S

Research is part of Danske Bank Markets and operate as Danske Bank's research department. The department monitors financial markets and economic trends of relevance to Danske Bank Markets and its clients.

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