After yesterday's publication of key macroeconomic data the pair has dropped as low as 1,3910. This level we treat as the last significant support before 1,3820 and 1,3740. The level of 1,3740 is a bullish reversal point for now. Breach of this level would be a very strong sell signal. Fall to 1,3910 in our opinion may be used to open long positions, because we still expect the market to return to gains. First target should be set at 1,4010 however destination target we suggest setting at 1,4180 or even 1,4320.

GBPUSD
The pair bounced off 1,6600 yesterday, so now the first good point to open long positions is at 1,6310. In case 1,6220 is broken falls to the area of 1,5800/1,5900 seen as a second good level to go long. Rise above 1,6650 will initiate gains towards 1,6960.

USDCHF
The risk of the SNB's intervention that we have been mentioning for weeks, finally came true. Yesterday the rate jumped to 1,1010. Now the most probable scenario is a slow movement backwards. Market may start playing against the Swiss National Bank and provoke it to another intervention. We may witness this game for another couple of weeks. Going short is  risky but technically reasonable. We may consider going short at 1,1020 with take profit order set at 1,0920. The stop loss order should be set closely not higher than 1,1050 due to possibility of a rise to 1,1160 or even 1,1300 in case of a further intervention.

USDJPY
The pair is likely to reach 97,10 in case it jumps above 96,40. Over there we suggest opening short positions. Our mid-term expectations are still set at 91,00.

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