Intraday analysis covering GBPUSD analysis, EURJPY, and GER 40 , highlighting recent price movements, key technical levels, and short-term momentum shifts across major markets.
GBPUSD fighting back
The GBPUSD analysis shows The pound remains pressured after last week’s 200 pip drop as the UK searches for its next Prime Minister.
- The pair has kept the pressure on as prices remain under the 1.3300 level.
- The latest move has seen some resistance, and price action will need to move above 1.3320 to suggest that buyers are back in the market.
- 1.3150 is a key zone to keep the price afloat as its breach would trigger an extension below 1.3100.
EURJPY halts bull run
The euro attempts to stay in control of the market as a pullback in the recent rally has led to a test at the 184.00 zone, which has shaken out some undecided traders.
- Prices on the chart indicate lingering bearish pressure, and 183.50 is the closest resistance.
- A bullish divergence on the RSI would lift prices to a fresh high at 185.30, resuming the uptrend.
- Further up, 186.00 is a major ceiling if the euro maintains another bull run.
GER 40 continuing the bear trend
The Dax remains bearish after falling away from fresh highs in the last few sessions. However, a swift rebound from the recent low at 24600 could put the index back on track.
- A break above the swing high at 24900 would flush out selling interests and prompt sellers to cover their positions.
- With the latest bounce on the RSI, bulls could expect a rally to emerge, potentially towards the 25300 area.
- 24200 is a major psychological floor as the index looks to hang on.
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