Intraday analysis covering GBPUSD , EURJPY Analysis, and GER 40, highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
GBPUSD pushes higher
The pound took another step forward as markets digested yesterday’s announcement that the UK is looking for a new Prime Minister.
- The latest psychological level at 1.3300 is where some sellers could step in, and 1.3250 is the first zone to maintain the upward pressure.
- A reversal and a close below 1.3170 would flush out the remaining buying interests and pave the way for a drop lower
- On the upside, a lack of resistance would drive the pair towards 1.3380.
EURJPY continues to climb
EURJPY Analysis shows The Euro continues to climb against the Yen, even though a slight pullback in price action has seen some sellers re-enter the market.
- The pair has held on to its gains after breaking above 184.80.
- A series of higher lows indicates rising bullish momentum, which is likely to attract more buyers.
- The recent peak of 186.00 is a major ceiling ahead, and its breach would signal a bullish continuation.
- On the flip side, a fall below 184.80 could lead to a test of the previous double bottom at 184.30.
GER 40 hitting another high
Global equities continue to climb as advanced talks for ending the Middle Eastern conflict continued.
- The Dax’s hold above the daily support of 25000 has boosted the short-term enthusiasm.
- However, bears might not have had their last word yet, as general sentiment remains shaky.
- 25300 is the immediate hurdle for buyers, and a close above this would resume the uptrend.
- On the flip side, as price action tests 25000, a break lower could cause a runaway sell off towards 24800.
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