fxs_header_sponsor_anchor

Analysis

GBP/USD: Minor support at 1.4115/05

GBP/USD, EUR/GBP, GBP/NZD

GBPUSD topped exactly at important 6 month trend line resistance now at 1.4220/30. We wrote: Shorts at 1.4220/30 target 1.4170/60. If we continue lower look for 1.4130/20.

Perfect!! A potential 100 pips profit as we hit 1.4130/20. WE HAVE A MAJOR DOUBLE TOP SELL SIGNAL.

EUR/GBP

GBPNZD we wrote: holding above 1.9550/60 targets 1.9620/30 (hit this morning) & the May high at 1.9660/70. A break above 1.9690 targets 1.9715/25.

All targets hit.

Daily analysis

GBPUSD minor support at 1.4115/05. A break lower targets 100 month moving average support at 1.4080/60, perhaps as far as support at 1.4025/15.

Gains are likely to be limited with minor resistance at 1.4135/40 & 1.4160/70. Important 6 month trend line resistance now at 1.4220/30. A break higher targets strong 200 week moving average resistance at 1.4300/10.

EURGBP first support at 8600/8590 but below here re-targets 8565/60. A break lower to today targets 8530/20.

First resistance at 8640/50. A break higher re-targets 8665 & 8712/19. A break higher targets 8750/60, perhaps as far as 8785/90.

GBPNZD reaches the target of 1.9715/25 & if we continue higher today look for 1.9750/60 with strong resistance at 1.9800/20.

First support at 1.9635/30 then strong support at 1.9600/1.9580. Longs need stops below 1.9560.

Chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.