Update Daily Technical Levels from FXCC 05 Sep 2011

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Update Daily Technical Levels from FXCC 05 Sep 2011

EUR/USD
Intraday Technical Levels:

Pivot : 1.418
Preference: Short positions below 1.418 with targets @ 1.41 & 1.405 in extension.
Alternative Scenario: Above 1.418 look for further upside with 1.423 & 1.43 as targets.
Comment: the pair stands below its resistance and remains under pressure as the RSI is capped by a MT declining trend line.

USD/JPY
Intraday Technical Levels:

Pivot: 77
Preference: Short positions below 77 with targets @ 76.6 & 76.45 in extension.
Alternative Scenario: Above 77 look for further upside with 77.2 & 77.35 as targets..
Comment: the pair is posting a rebound but stands below its resistance.

GBP/USD
Intraday Technical Levels:

Pivot: 1.619
Preference: Short positions below 1.619 with targets @ 1.6095 & 1.605 in extension.
Alternative Scenario: Above 1.619 look for further upside with 1.6225 & 1.6255 as targets.
Comment: the pair remains capped by a declining trend line and is challenging its support.

Daily Technical Levels from fxcc.com
Source: FX Central Clearing http://www.fxcc.com