GBP/USD levels: The bias remains bullish

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Limited upside.

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Pivot (invalidation): 1.1575

Our preference
Long positions above 1.1575 with targets at 1.1605 & 1.1620 in extension.

Alternative scenario
Below 1.1575 look for further downside with 1.1555 & 1.1525 as targets.

Comment
Even though a continuation of the consolidation cannot be ruled out, its extent should be limited.

GBP/USD

The bias remains bullish.

Pivot (invalidation): 1.2980

Our preference
Long positions above 1.2980 with targets at 1.3045 & 1.3085 in extension.

Alternative scenario
Below 1.2980 look for further downside with 1.2945 & 1.2900 as targets.

Comment
A support base at 1.2980 has formed and has allowed for a temporary stabilisation.

USD/JPY

Caution.

Pivot (invalidation): 111.40

Our preference
Long positions above 111.40 with targets at 111.65 & 111.75 in extension.

Alternative scenario
Below 111.40 look for further downside with 111.25 & 111.05 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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