GBP/USD erratic and random, up one day, down the next day in the sideways trend through July so far. Same levels apply for today.

EUR/GBP shorts at first resistance at 8555/75 worked perfectly. We topped exactly here for a 50 pip profit.

GBP/NZD no pattern or trend to judge direction – moves are random and erratic.

Today’s Analysis

GBP/USD holding below minor resistance at 1.3835/55 re-targets 1.3815/10, perhaps as far as 1.3745/35.

Above 1.3860 allows a recovery to resistance at 1.3930/40. A high for the day possible. However a break above 1.3960 signals further gains to 1.3985/95.

EUR/GBP shorts at first resistance at 8555/75 worked on the slide to 8530/8520 & almost as far as this week’s low at 8505/00. We are in a slow bear trend so a break lower targets 8480/70.

First resistance at 8555/75. A break higher targets 8615/20. Above here is a buy signal initially targeting 8640/50, perhaps as far as 8670.

GBP/NZD first support at 1.9665/55. A break lower targets 1.9570/60.

First resistance at 1.9770/90. A break above 1.9800 targets 1.9840/45.

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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