GBP/USD, EUR/GBP, GBP/NZD Daily Forecast

GBP/USD is building a very slow recovery to first resistance at 1.3920/30. We topped exactly here. The pair has traded in a 300 pip range for almost 2 months.

EUR/GBP topped exactly at first resistance at last week’s high at 8712/19.

GBP/NZD breaks lower to the 100 day moving average at 1.9190/80.

Today’s Analysis

GBP/USD sees minor support at 1.3885/75, with the best support for the day at 1.3830/20 today.

Longs need stops below 1.3800.

We topped exactly at resistance at 1.3920/30. A break higher today targets 1.3950 and 1.3975/85 before a retest of 1.4000/10.

EUR/GBP topped exactly at first resistance at last week’s high at 8712/19 (which also held on the retest on Friday). A break higher targets 8750/60.

First support is at 8665/55, but below 8645 it can target 8630/20 before support at 8600/8590. Below 8585, it can target 8565/60.

GBP/NZD tests the 100-day moving average at 1.9190/80. We bottomed exactly here but longs need stops below 1.9165. A break lower targets 1.9105/00.

Holding the 100-day moving average at 1.9190/80 targets 1.9260/80 with resistance at 1.9300/20. If we continue higher, look for 1.9410/20.

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 realized. 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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