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How Stable Is GBP/USD?

Published 10/09/2020, 07:10 AM
Updated 07/09/2023, 06:32 AM
GBP/USD
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USD/CAD
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USD/NZD
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GBP/USD

Since the beginning of the month, GBP/USD has been fluctuating between the support and resistance lines, which served as the basis for creating a short-term growing channel. Right now, the price is moving in an uptrend and is in the middle of this channel. Therefore, I expect that it will continue its growth and come to its top - the resistance line 1.307.
GBP/USD

EUR/AUD

Since the end of June, the pair has been moving in a strong growing channel, alternately falling to its lower border - the support line, then rising to the upper one - the resistance line. Moreover, the support level 1.638 has formed in the middle of the channel. And now the price has reached it. Analyzing the price instability in the past, the pair is expected to break through the support level and touch the channel bottom. Thus, the final target is the support line 1.622.
EUR/AUD

USD/CAD

USD/CAD was characterized by rather significant price changes over short periods of time. In the first half of September, the pair showed a quite stable movement along the 1.318 support zone. Then, after a strong bounce, it tested the 1.334 resistance zone. But two days ago, it returned to a strong support level. After such a significant drop, I don't think the price will continue to drop. Thus, it is predicted to take the advantage of the strong support and rebound to the crossing of two resistance lines 1.322.
USD/CAD

NZD/USD

The last few months have been characterized by sharp price jumps for USD/NZD. So, at the end of August it headily rose to the resistance line, and in mid-September it also plummeted to the support line, where it made a false breakout. The pair has recently completed the correction and returned to the 0.657 support line. Therefore, now the price is supposed to have an upward trend. Thus, the pair's target is one of the strong resistance lines at position 0.673.
NZD/USD

Please, pay your attention! Financial market forecasts are authors' private opinions. The current analysis is not intended to be a trading guide. The author is not responsible for the results of work that may arise when using trading recommendations from the forecasts presented.

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