Barclays technical analysis
The following are the latest technical setups for EUR/USD, USD/JPY, GBP/USD, and AUD/USD as provided by the technical strategy team at Barclays Capital.
EUR/USD: A move below initial downside targets in the 1.1085 area would encourage our bearish view. Our downside targets are in the 1.1000/1.1020 area. Further out, we see room towards the 1.0810 range lows and then the 1.0460 year-to-date lows.
USD/JPY: Yesterday's up-day confirms the prior base candle and points in range towards our targets near 121.75 and then the 123.35 area. Support is at 118.65.
GBP/USD: Our bullish conviction was encouraged by Tuesday's high close. We expect further gains within range towards 1.5490 and then 1.5680. Above the latter would signal scope to the 1.5820 highs.
AUD/USD: Short-term corrective gains are expected to find selling interest in the 0.7210/20 area. We would look to sell upticks for a move lower towards near 0.6770.
They also note a rise in GBP volumes in the latest upswing.
Check out eFX Plus.
