GBP/USD no clear trend or pattern – up one day, down the next day in the sideways trend. Shorts at first resistance at 1.3870/80 worked perfectly targeting 1.3830/20, 1.3780/75 and support at 1.3735/25 for profit taking. A potential 140 pips?
EUR/GBP longs at first support at 8500/8490 target 8525/30.
GBP/NZD ranging from 1.9690/70 up to 1.2030/50. The pair beat minor resistance at 1.9900/20 targeting 1.9980/1.2000.
Today’s Analysis
GBP/USD shorts at first resistance at 1.3870/80 hit the ultimate target and support at 1.3735/25 for profit taking. Likely we continue lower today towards 1.3670/55.
Gains are likely to be limited with minor resistance at 1.3785/95. Strong resistance at 1.3820/30. Shorts need stops above 1.3850.
EUR/GBP longs at first support at 8500/8490 target 8525/30 (hit). Above 8540 look for 8565/75.
First support at 8500/8490, second support at 8455/45. If we continue lower however look for 8400/8390.
GBP/NZD beat minor resistance at 1.9900/20 targeting 1.9980/1.2000 (hit).
Resistance at the 2021 high of 2.0060/80. A break above 2.0100 therefore is a buy signal.
First support at 1.9960/50. A break lower targets 1.9900/90, perhaps as far as strong support at 1.9820/00.
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