Sample Category Title

Pivot (invalidation): 49.40

Our preference Short positions below 49.40 with targets at 48.35 & 47.60 in extension.

Alternative scenario Above 49.40 look for further upside with 49.80 & 50.70 as targets.

Comment The RSI is mixed to bearish.

Pivot (invalidation): 15.6800

Our preference Short positions below 15.6800 with targets at 15.4600 & 15.3500 in extension.

Alternative scenario Above 15.6800 look for further upside with 15.7400 & 15.8100 as targets.

Comment The RSI advocates for further decline.

Pivot (invalidation): 1290.00

Our preference Short positions below 1290.00 with targets at 1281.50 & 1278.50 in extension.

Alternative scenario Above 1290.00 look for further upside with 1292.25 & 1295.25 as targets.

Comment The RSI advocates for further decline.

Daily Pivots: (S1) 138.02; (P) 138.47; (R1) 139.34; More...

GBP/JPY's rebound from 131.51 short term bottom is still in progress and intraday bias stays mildly on the upside. We'd expect strong resistance from 139.88 key resistance to limit upside. On the downside, break of 136.61 minor support will turn bias to the downside for retesting 131.51 low. Overall, larger down trend from 155.59 is expected to resume later after the consolidation completes.

In the bigger picture, corrective medium term rise from 122.36 (2016 low) has completed at 156.69 already. That came after failing to break through 55 month EMA. Fall from 156.59 (2018 high) is seen as resuming the long term down trend from 195.86 (2015 high). Below 131.51 will target 122.36 low first. Break of 122.36 will target 116.83 low first (2011 low). And this will now remain the preferred case as long as 139.88 support turned resistance holds. Sustained break of 139.88 will mix up the outlook and we'll reassess on the final structure of the rebound from 131.51.

Pivot (invalidation): 2515.00

Our preference Long positions above 2515.00 with targets at 2583.00 & 2637.00 in extension.

Alternative scenario Below 2515.00 look for further downside with 2473.00 & 2440.00 as targets.

Comment The RSI is mixed to bullish.

Pivot (invalidation): 10680.00

Our preference Long positions above 10680.00 with targets at 10785.00 & 10840.00 in extension.

Alternative scenario Below 10680.00 look for further downside with 10610.00 & 10553.00 as targets.

Comment A support base at 10680.00 has formed and has allowed for a temporary stabilisation.

Pivot (invalidation): 5.3510

Our preference Long positions above 5.3510 with targets at 5.4110 & 5.4430 in extension.

Alternative scenario Below 5.3510 look for further downside with 5.3050 & 5.2670 as targets.

Comment The RSI calls for a new upleg.

Pivot (invalidation): 0.7105

Our preference Long positions above 0.7105 with targets at 0.7150 & 0.7185 in extension.

Alternative scenario Below 0.7105 look for further downside with 0.7080 & 0.7055 as targets.

Comment A support base at 0.7105 has formed and has allowed for a temporary stabilisation.

Daily Pivots: (S1) 0.8960; (P) 0.8976; (R1) 0.9001; More...

EUR/GBP remains bounded in range of 0.8927/9101 and intraday bias remains neutral. Further rally is expected with 0.8927 support intact. On the upside, firm break of 0.9098 resistance will extend the whole rise from 0.8655 to 0.9304 key resistance next. However, on the downside, break of 0.8927 support will suggest near term reversal and turn bias to the downside for 0.8810 support and below.

In the bigger picture, EUR/GBP is seen as staying in long term range pattern started at 0.9304 (2016 high). It should be in medium term rising leg for 0.9304. Meanwhile, in case of another fall, downside should be contained by 0.8620/55 support zone to bring rebound.

Pivot (invalidation): 1.3330

Our preference Short positions below 1.3330 with targets at 1.3265 & 1.3220 in extension.

Alternative scenario Above 1.3330 look for further upside with 1.3365 & 1.3400 as targets.

Comment The RSI is bearish and calls for further downside.