Goldman Sachs Spot Desk Strategies

A nasty price action yesterday reduced dramatically market EUR short positioning. We remain long USDJPY while we cut the EUR short trade. Today the ECB will be an important catalyst for the pair.
{EU} EURUSD Neutral=> The ECB today will be key to understand the short term direction of the pair before NFP on Friday. Key levels for the session: Support comes in at 1.1050/60, with first resistance at 1.1200/50 and then 1.1470.
{JN} USDJPY Higher => We continue to like the pair higher, with key levels for today: Resistance at 124.30 and support at 123.60/30.
{GB} GBPUSD Neutral => We remain neutral on cable for now. Levels on cable: near support at 1.5270 and then 1.5170 (recent low), with resistance at 1.5440 and 1.5529.

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