The following are the intraday outlooks for EUR/USD, USD/JPY, and EUR/GBP as provided by the technical strategy team at SEB Group.
EUR/USD: Additional near-term losses are likely. Another bears’ victory was scored yesterday. There are so lesser “Fibos” at 1.0631& 1.0583 and a slightly more important one at 1.0480 to consider but those should not stand in the way for the cycle low at 1.0457. Short-term dynamic resistance is currently located at 1.0695 & and the current intraday stretches are found at 1.0570 & 1.0730.
USD/JPY: A fresh high looks possible. It looks like dynamic support coming with the Fibo-adjusted 8day “Tenkan-Sen” line (122.90) can carry the pair into a fresh high over 123.60 and a ref cluster around there – and if so sights should be lifted to 125.28 next (with respect to a number of refs on the way to consider). Current intraday stretches are located at 122.75 & 123.95.
EUR/GBP: On a losing streak. The paced drop should be expected to continue at least until seriously damaging dynamic resistance coming with the steeply falling 8day ‘Tenkan-Sen” (0.7065). The move has brought Jul/Aug lows at 0.6951& 0.6935 within reach (but the current intraday stretches which are located at 0.6950 & 0.7055 should also be observed).
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