GBPUSD broke the 100 month moving average at 1.4080/60 for a sell signal targeting 100 day moving average at 1.3940/35 & almost as far as 1.3880/70 for decent profit on our shorts.

EURGBP broke support at the May/June low at 8563/8558 to bottom exactly at the next target of 8538.

GBPNZD bottomed exactly at support at 1.9700/1.9690 & rocketed to our target of target 1.9910/30 for an easy 200 pip profit on the day.

Daily analysis

GBPUSD outlook negative as we hold below 1.3935/40 targeting 1.3880/70 & 1.3840/30. Further losses target 1.3800.

Gains are likely to be limited with first resistance at 1.3940/50. Strong resistance at 1.3975/85. Shorts need stops above 1.4000.

EURGBP holding resistance at 8563/8558 on the bounce a sell signal targeting 8538, 8505, 8490, perhaps as far as 8475/70.

A break above 8580 however allows a recovery to 8600/05, perhaps as far as trend line resistance at 8615/25.

GBPNZD longs at support at 1.9700/1.9690 offered up to 200 pips profit on the run to 1.9910/30 & probably 1.9965/70 today, perhaps as far as 2.0035/45.

Downside is expected to be limited with first support at 1.9870/50. Longs need stops below 1.9820.



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.

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