Goldman Sachs Spot Desk Strategies

OVERVIEW => USD strength was reignited yesterday on the back of the San Francisco Fed’s optimism on US growth but it still remains to be seen whether this is just a move lower in a range or if we are resuming a downward trend. For the time being we remain cautious and maintain a neutral stance with minimum positioning, looking to be flexible intraday.
{EU} EURUSD Neutral => We remain side lined for now with key levels for the session: first resistance at 1.1320-30 then 1.1350 and 1.1534 (highs post easing), with 1.1250 the main support level below.
{JN} USDJPY Neutral => We remain neutral here with key levels for the session: support on the session comes in at 119.55 and 119.20, with resistance at 120.20-25 and then 120.50.
{GB} GBPUSD Higher => We are still cautious in Cable but are inclined to buy on dips, with levels: the main support will be the 200dma at 1.5597, with resistance at 1.5707, then 1.5815 and 1.5879

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