GBP/USD Intraday: Under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Bullish bias above 1.1135.

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Pivot (invalidation): 1.1135

Our preference
Long positions above 1.1135 with targets at 1.1180 & 1.1205 in extension.

Alternative scenario
Below 1.1135 look for further downside with 1.1115 & 1.1100 as targets.

Comment
A support base at 1.1135 has formed and has allowed for a temporary stabilisation. The RSI shows that the pair lacks downward momentum.

GBP/USD

Under pressure.

Pivot (invalidation): 1.2950

Our preference
Short positions below 1.2950 with targets at 1.2870 & 1.2835 in extension.

Alternative scenario
Above 1.2950 look for further upside with 1.2990 & 1.3025 as targets.

Comment
As Long as the resistance at 1.2950 is not surpassed, the risk of the break below 1.2870 remains high. The pair has crossed below a bullish trend line in place since October 14.

USD/JPY

Turning up.

Pivot (invalidation): 108.30

Our preference
Long positions above 108.30 with targets at 108.60 & 108.70 in extension.

Alternative scenario
Below 108.30 look for further downside with 108.15 & 108.00 as targets.

Comment
The RSI calls for a rebound. The pair has swung to the upper Bollinger band from the lower one.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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