GBP/USD, EUR/GBP, GBP/NZD

GBPUSD initial break below 100 month moving average support at 1.4080/60 was very frustrating with an unexpected bounce back to 1.4132 before the pair collapsed on the Fed minutes.

EURGBP remains in a triangle pattern from support at the May/June low at 8563/8558 to strong resistance at 8635/45. Both of which are holding perfectly so far this week.

GBPNZD broke higher to 1.9864 but unexpectedly collapsed to 1.9700.

Daily analysis

GBPUSD finally broke the 100 month moving average at 1.4080/60 for a sell signal this week targeting 1.4025/15 & 1.3970/60. We bottomed exactly here but are likely to test the 100 day moving average at 1.3940/35, perhaps today. A break below 1.3925 risks a slide to 1.3880/70 & a.3840/30.

Gains are likely to be limited with first resistance at 1.4030/40. Unlikely but if we continue higher expect strong resistance at 1.4070/80. Stop above 1.4100.

EURGBP minor support at 8590/80, then better support at the May/June low at 8563/8558. A break lower to is a sell signal targeting 8538, 8505, 8490, perhaps as far as 8475/70.

Expect strong resistance at 8630/40. Shorts need stops above 8645. A break higher is a medium term buy signal.

GBPNZD has already wiped out Wednesday’s gains over night. Support at 1.9700/1.9690. Further losses meet support at 1.9620/00.

A break above 1.9865 can target 1.9910/30 & 1.9965/70, perhaps as far as 2.0035/45.

Chart

GBPUSD

The contents of our reports are intended to be understood by professional users who are fully aware of the inherent risks in Forex, Futures, Options, Stocks and Bonds trading. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE AND IS PROVIDED FOR INFORMATION AND EDUCATION PURPOSES ONLY.

Feed news

Latest Forex Analysis


Latest Forex Analysis

Editors’ Picks

EUR/USD extends gains beyond 1.1820 after US data miss

EUR/USD is trading near weekly highs above 1.1820, as the greenback eases with worse than anticipated data and ahead of the US Federal Reserve decision. US Durable Goods Orders missed estimates with +0.8% in June.

EUR/USD News

GBP/USD recaptures 1.38 as the dollar pares gains

GBP/USD is trading above 1.38, as the safe-haven dollar gains have faded away after a risk-off mood earlier in the day. The pound benefited from the drop in British covid cases. 

GBP/USD News

Gold battles $1,800 as USD lingers near highs

Gold prices loiter near the $1,800 mark for the past five trading sessions. The US dollar remains steady near the four-month high ahead of the Fed’s interest rate decision. The prices moved cautiously despite the general negative sentiments surrounding the greenback.

Gold News

Crypto markets bleed after Amazon denies rumors; uptrend intact

Bitcoin price is experiencing a pullback after rallying 38% to tag $40,000. Ethereum price promptly follows BTC as it eyes a retracement to the $2,018 support level.

Read more

FX: 10 things to watch this week

Taking a look at the economic calendar, it is set to be a busy week for the forex market. There’s a central bank rate decision, GDP, inflation and employment reports scheduled for release. A number of big tech companies have ...

Read more

Majors

Cryptocurrencies

Signatures