GS: G10 FX – London Spot Trader Views via FXWW Chatroom

Conviction in the USD trade feels very low and in that sense this week’s US employment report will hold the key to where we go from here. We maintain a minimum risk stance.

 
{EU} EURUSD Flat=> Friday’s US employment data should indicate where to go from here but until then we prefer to be in waiting mode and play the range. Key levels for the session are: On the downside 1.1220, 1.1170-75 and then 1.1070 seem like reasonable support levels, while on the topside we should find resistance at 1.1295-1.1300 and then 1.1260. 


{GB} GBPUSD Flat => Flows continue to be driven by position reduction into the event and we have been a better seller on rallies, with key levels for the session: support back at the 1.5150 pivot with resistance levels at 1.5240 and 1.5300. 


{JN} USDJPY Flat=> We maintain our positioning here with key levels for the session: 119.36 and 119.00 should be the first meaningful support levels, with 120.00-05 and yesterday’s high of 120.50 offering some good resistance for this session, and then 120.85 (highs from the past couple of weeks). 

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