CMC MARKETS. EURUSD – we’ve drifted back from trend line resistance trend line resistance at 1.2540 from the October highs at 1.2887 but have so far managed to hold above 1.2450, which needs to hold to keep the rebound going towards 1.2600. A move below 1.2450 retargets the lows at 1.2355. We need to move below 1.2350 level to target a move towards the 1.2040 level.
Análisis Técnico
GBPUSD – we’ve seen the pound drift back after Wednesday’s peak at 1.5826, and we have drifted back briefly below the 1.5725 level which is a concern. A drop below 1.5700 could well negate the possibility of a push back towards the 1.5885 level. A move below 1.5700 has the potential to retarget the twin lows at 1.5590.
EURGBP – currently trading within a range of 0.7900 and the highs this week at 0.7950. While below the 200 day MA at 0.8045 as well as trend line resistance from the September highs at 0.8030, the risk remains for a fresh move lower, back towards the 0.7870 level.
USDJPY – the inability to rally strongly on some fairly good US numbers in the past two days suggests we could be set for a pullback. A move below 117.30 argues for a move towards 116.20. The US dollar still appears to be well supported for its move towards 120.00 on the dips with 115.40/45, the low last week likely to be a key support if we get there.