GBP/USD held just 10 pips from very strong support at the July low at 1.3590/70 and hit very strong resistance at 1.3725/25 for profit taking on any longs. Shorts need stops above 1.3750.
EUR/GBP topped exactly at very strong resistance at 8575/90. Shorts work on the slide to first support at 8545/35.
GBP/NZD is in an erratic sideways trend, ranging from 1.9690/70 up to 2.0060/80. Shorts at resistance at the 2021 high of 2.0060/80 worked perfectly.
Today’s Analysis
GBP/USD is holding very strong resistance at 1.3725/25. Shorts need stops above 1.3750. A break higher is a buy signal targeting 1.3785/90 and a sell opportunity at 1.3810/30. Stop above 1.3845. Shorts at strong resistance at 1.3725/25 target 1.3690/80. Below 1.3670 look for 1.3650 and 1.3630. Strong support at the July low at 1.3590/70. Longs need stops below 1.3550. A break lower is a sell signal targeting 1.3520/10 and 1.3460/50.
EUR/GBP first support is at 8545/35. Longs need stops below 8525. Longs at 8545/35 target 8565/75 and very strong resistance at 8575/90. Shorts need stops above 8600. A break above here is a buy signal, targeting 8665/70.
GBP/NZD shorts at resistance at the 2021 high of 2.0060/80 work as we target first support at 1.9960/50 then second support at 1.9900/90 for a potential 160 pip profit. Expect strong support at 1.9820/00.topped exactly at resistance. Minor resistance at 1.9970/80. Strong resistance at the 2021 high of 2.0060/80. A break above 2.0100 therefore is a buy signal initially targeting 2.0250/70.
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