Courtesy of Trading Central
EUR/USD Intraday: the downside prevails
Most Likely Scenario: Short positions below 1.095 with targets @ 1.0815 & 1.075 in extension.
Alternative scenario: Above 1.095 look for further upside with 1.0985 & 1.1035 as targets.
Comment: The RSI lacks upward momentum. The pair has broken below its previous low.
GBP/USD Intraday: under pressure.
Most Likely Scenario: Short positions below 1.517 with targets @ 1.503 & 1.4985 in extension.
Alternative scenario: Above 1.517 look for further upside with 1.522 & 1.527 as targets.
Comment: Even though a continuation of the technical rebound cannot be ruled out, its extent should be limited. The pair has broken below its previous low and remains on the downside.
GBP/USD Intraday: the upside prevails.
Most Likely Scenario: Long positions above 120.6 with targets @ 121.28 & 121.6 in extension.
Alternative scenario: Below 120.6 look for further downside with 120.2 & 119.85 as targets.
Comment: A support base at 120.6 has formed and has allowed for a temporary stabilisation.
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