Intraday Analysis - Tuesday, June 23

GBPUSD pushes higher

The pound took another step forward as markets digested yesterday’s announcement that the UK is looking for a new Prime Minister.

• The latest psychological level at 1.3300 is where some sellers could step in, and 1.3250 is the first zone to maintain the upward pressure.

• A reversal and a close below 1.3170 would flush out the remaining buying interests and pave the way for a drop lower

• On the upside, a lack of resistance would drive the pair towards 1.3380.

EURJPY continues to climb

EURJPY Analysis shows The Euro continues to climb against the Yen, even though a slight pullback in price action has seen some sellers re-enter the market.

• The pair has held on to its gains after breaking above 184.80.

• A series of higher lows indicates rising bullish momentum, which is likely to attract more buyers.

• The recent peak of 186.00 is a major ceiling ahead, and its breach would signal a bullish continuation.

• On the flip side, a fall below 184.80 could lead to a test of the previous double bottom at 184.30.

GER 40 hitting another high

Global equities continue to climb as advanced talks for ending the Middle Eastern conflict continued.

• The Dax’s hold above the daily support of 25000 has boosted the short-term enthusiasm.

• However, bears might not have had their last word yet, as general sentiment remains shaky.

• 25300 is the immediate hurdle for buyers, and a close above this would resume the uptrend.

• On the flip side, as price action tests 25000, a break lower could cause a runaway sell off towards 24800.