GBP/USD, EUR/GBP And GBP/NZD Forecast

GBP/USD shorts at the best selling opportunity at 1.3730/40 continue to work with a high for the day here yesterday.

EUR/GBP remains in a 5 month sideways trend.

GBP/NZD erratic and volatile but only trading sideways so same levels apply for today.

Today’s Analysis

GBP/USD could go in any direction today, there is no clear trend or pattern to follow. Best selling opportunity again at 1.3730/40 again today. Shorts need stops above 1.3760. A break higher targets 1.3785 and strong resistance at 1.3825/35. Shorts need stops above 1.3850.

Shorts at 1.3730/40 target 1.3685/80 with minor support at 1.3650/30 for some profit taking. Although we bottomed exactly here on Friday, a break lower targets 1.3580/60. A break below 1.3540 is a sell signal targeting the 2021 low at 1.3460/50.

EUR/GBP same levels apply for today with minor support at 8550/8540. Below 8530 look for 8510/05.

Minor resistance at 8575/80 but above can retest 8610/15.

GBP/NZD through first resistance at 1.9510/20 to the next target of 1.9560/70 (a high for the day here) with strong resistance at 1.9610/20 today. Shorts need stops above 1.9645.

Minor support at 1.9520/10 and again at recent lows at 1.9350/30. A break lower this week is a sell signal and can target 1.9200.

GBP Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

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