GBPUSD levels: Under pressure

Swissquote Bank Research Team Swissquote Bank Ltd

EUR/USD

Target 1.1710.

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Pivot (invalidation): 1.1760

Our preference
Short positions below 1.1760 with targets at 1.1730 & 1.1710 in extension.

Alternative scenario
Above 1.1760 look for further upside with 1.1775 & 1.1800 as targets.

Comment
The RSI lacks upward momentum.

GBP/USD

Under pressure.

Pivot (invalidation): 1.3105

Our preference
Short positions below 1.3105 with targets at 1.3055 & 1.3025 in extension.

Alternative scenario
Above 1.3105 look for further upside with 1.3140 & 1.3170 as targets.

Comment
As Long as the resistance at 1.3105 is not surpassed, the risk of the break below 1.3055 remains high.

USD/JPY

Caution.

Pivot (invalidation): 112.65

Our preference
Short positions below 112.65 with targets at 112.45 & 112.35 in extension.

Alternative scenario
Above 112.65 look for further upside with 112.85 & 113.00 as targets.

Comment
Intraday technical indicators are mixed and call for caution.

Author

Swissquote Bank Research Team

Swissquote Bank Ltd

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