GBP/USD: Best support for the day at 1.3820/10

Jason Sen DayTradeIdeas.co.uk

GBP/USD, EUR/GBP, GBP/NZD

GBPUSD broke best support for the day at 1.3880/70 to target 1.3840/35. Bestsupport for the day at 1.3820/10 today. Longs need stops below 1.3790.

The pair has traded in a 300 pip range for almost 2 months.

EURGBP held strong support at 8595/90 to target 8625/30 & strong resistance at8660/65. However, we continued higher 8700 to recover most of last Friday’s & Monday’s losses.

GBPNZD broke support at 1.9330/20 to hit the next target & 3 monthly trend linesupport at 1.9275/55.

Daily analysis

GBPUSD best support for the day at 1.3820/10 today. Longs need stops below1.3790.

A bounce from 1.3820/10 targets 1.3870/80 with resistance at 1.3920/30.

EURGBP first support at 8665/55 but below here can target targets 8630/20. Furtherlosses test support at 8600/8590. Below 8585 can target 8565/60.

First resistance at last week’s high at 8712/19. A break higher targets 8750/60.

GBPNZD tests 3-month trend line support at 1.9280/60 today. A break lower test the100 day moving average at 1.9190/80.

Holding 1.9280/60 targets 1.9360/80. If we continue higher look for 1.9420/30 before a retest of this week’s high at 1.9490/1.9500.

Chart

Author

Jason Sen

DayTradeIdeas.co.uk

EUR/USD tests nine-day EMA support near 1.1850

EUR/USD remains in the negative territory for the fourth successive session, trading around 1.1870 during the Asian hours on Friday. The 14-day Relative Strength Index momentum indicator at 56 stays above the midline, confirming steady momentum. RSI has eased but remains above 50, indicating momentum remains constructive for the bulls.

GBP/USD consolidates around 1.3600 vs. USD; looks to US CPI for fresh impetus

The GBP/USD pair remains on the defensive through the Asian session on Friday, though it lacks bearish conviction and holds above the 1.3600 mark as traders await the release of the US consumer inflation figures before placing directional bets.

Gold recovers swiftly from weekly low, climbs back closer to $5,000 ahead of US CPI

Gold regains positive traction during the Asian session on Friday and recovers a part of the previous day's heavy losses to the $4,878-4,877 region, or the weekly low. The commodity has now moved back closer to the $5,000 psychological mark as traders keenly await the release of the US consumer inflation figures for more cues about the Federal Reserve's policy path.