Trading Central--NOON MARKET UPDATE

GBP/USD Intraday:the upside prevails.

Pivot:

1.2680

Our preference:

Long positions above 1.2680 with targets at 1.2735 & 1.2750 in extension.

Alternative scenario:

Below 1.2680 look for further downside with 1.2660 & 1.2645 as targets.

Comment:

The RSI is bullish and calls for further upside.

USD/JPY Intraday: under pressure.

Pivot:

148.30

Our preference:

Short positions below 148.30 with targets at 147.60 & 147.30 in extension.

Alternative scenario:

Above 148.30 look for further upside with 148.50 & 148.80 as targets.

Comment:

As long as the resistance at 148.30 is not surpassed, the risk of the break below 147.60 remains high.

EUR/USD Intraday: the upside prevails.

Pivot:

1.0875

Our preference:

Long positions above 1.0875 with targets at 1.0920 & 1.0935 in extension.

Alternative scenario:

Below 1.0875 look for further downside with 1.0860 & 1.0845 as targets.

Comment:

Technically the RSI is above its neutrality area at 50.

Crude Oil (WTI)‎ (G4)‎ Intraday: under pressure.

Pivot:

73.70

Our preference:

Short positions below 73.70 with targets at 72.70 & 72.10 in extension.

Alternative scenario:

Above 73.70 look for further upside with 74.20 & 74.60 as targets.

Comment:

The RSI shows downside momentum.

Gold Intraday:intraday support around 2023.00.

Pivot:

2023.00

Our preference:

Long positions above 2023.00 with targets at 2033.00 & 2039.00 in extension.

Alternative scenario:

Below 2023.00 look for further downside with 2017.00 & 2012.00 as targets.

Comment:

A support base at 2023.00 has formed and has allowed for a temporary stabilisation.

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