GBP/USD – EUR/GBP

GBPUSD broke best support at 1.3810/00 to target 1.3755/45 & held just 7 pips above the next target of 1.3715/05.

EURGBP beat first resistance at 8580/90 & 1-month trend line resistance at 8625/30but held 15 pips above strong Fibonacci resistance at 8643/48 & we are trading back below here now.

Daily analysis

GBPUSD holding 1.3715/05 allows a recovery towards first resistance at1.3800/1.3825. This is the best chance of a high for the day. Shorts need stops above1.3845.

A break below 1.3700 sees a retest of the March low at 1.3675/65. This is the best support for today. Longs need stops below 1.3655.

EURGB strong Fibonacci resistance at 8645/50. Shorts need stops above yesterdays high at 8663. A break higher can target 8675 & 8690/8700.

Minor support at 8620/15 & better support at 8590/85 could see a low for the day iftested. Longs need stops below 8580. Support then at 8565/55.

Chart

GBPUSD

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