Daily Technical Levels from FXCC 8 Aug 2011

Daily Technical Levels from FXCC 8 Aug 2011

EUR/USD
Intraday Technical Levels:
Pivot: 1.4250.
Preference: LONG positions @ 1.426 with 1.4375 & 1.4405 as next targets.
Alternative Scenario: The downside penetration of 1.425 will call for a slide towards 1.42 & 1.416.
Comment: the pair has broken above its MT bearish channel upper boundary and should post further advance.
USD/JPY
Intraday Technical Levels:
Pivot: 78.60.
Preference: SHORT positions @ 78.55 with 77.5 & 77 as next targets.
Alternative Scenario: The upside penetration of 78.6 will call for a rebound towards 79 & 79.25.
Comment: the pair is breaking below its support and should face further weakness.

GBP/USD
Intraday Technical Levels:
Pivot: 1.6350.
Preference: LONG positions @ 1.636 with 1.644 & 1.6475 as next targets.
Alternative Scenario: The downside penetration of 1.635 will call for a slide towards 1.63 & 1.6255.
Comment: the pair remains on the upside and is challenging its resistance.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing