Goldman Sach's technical analysis of the major pairs for this week

Goldman Sachs presents its short-term technical analysis of the EUR/USD, GBP/USD and USD/JPY pairs.

EUR/USD:

The EUR/USD may have completed wave 3 which has a theoretical target at 1.1530. A wave 4 could develop towards 1.1221 (23.6% of wave 3). The first pivot support level comes at 1.13. A break here would mean that a short-term top is in place.

GBP/USD:

The next upward threshold is the December trend line at 1.3108. This could be part of a bevel that is a bearish figure. The bottom of the bevel holds at 1.2636. A break of one of these thresholds is necessary to have a clear direction.

USD/JPY:

The first bullish target is at 113.91. Because this is a corrective phase, one will need to take profits or reverse positions if this threshold is left behind. The pair will need to rise above 115.07 to suggest a stronger rise.