GS: G10 FX – LONDON SPOT TRADER VIEWS
OVERVIEW => On the back of a number of US Data releases this week, we hold on to our long USD position vs JPY and vs EUR. Our positioning remains less than 1/3 of max.
{EU} EURUSD Lower => We continue to like the pair lower. Key levels for the session: Support comes in at 1.0925 then 1.0870 ahead of last week’s 1.0819 low, Resistance at 1.1000 and then 1.1050/60.
{JN} USDJPY Higher => PCE data from the US will guide us short term, but in reality the market awaits NFPs on Friday to offer the next degree of clarity. We continue to like the pair higher with support at 123.60 ahead of 123.30 and resistance at 124.45/50.
{GB} GBPUSD Neutral => We remain neutral on cable for now and continue to think there are better value USD longs to be held elsewhere. Levels on cable: Support at 1.5165 – 05 and resistance at 1.5380 and then 1.5430/35.
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