GBPUSD Intraday: Bullish bias above 1.2950

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

The downside prevails.

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Pivot (invalidation): 1.1405

Our preference
Short positions below 1.1405 with targets at 1.1370 & 1.1350 in extension.

Alternative scenario
Above 1.1405 look for further upside with 1.1430 & 1.1455 as targets.

Comment
As Long as 1.1405 is resistance, look for choppy price action with a bearish bias.

GBP/USD

Bullish bias above 1.2950.

Pivot (invalidation): 1.2950

Our preference
Long positions above 1.2950 with targets at 1.3050 & 1.3090 in extension.

Alternative scenario
Below 1.2950 look for further downside with 1.2905 & 1.2855 as targets.

Comment
A support base at 1.2950 has formed and has allowed for a temporary stabilisation.

USD/JPY

Aim @ 113.60.

Pivot (invalidation): 112.90

Our preference
Long positions above 112.90 with targets at 113.35 & 113.60 in extension.

Alternative scenario
Below 112.90 look for further downside with 112.70 & 112.55 as targets.

Comment
Technically the RSI is above its neutrality area at 50.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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