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GBP/USD And GBP Cross Pairs: Levels, Ranges, Targets

Published 05/09/2018, 07:06 AM
Updated 09/03/2023, 03:41 AM

As no time is available for further Carney analysis, most prominent GBP pairs are located below and levels, ranges and targets are as usual perfect.

Yet as Carney delivers his remarks, not much matters as to what he says due to the known Levels, Ranges and Targets derived from his own Central Bank, the BOE.

GBP/USD Break Point for higher or lower, 1.3757. GBP/USD trades below break point. Bottom contained by 1.3488, 1.3471 and 1.3454. Target 1.3589 on a break at 1.3552.

GBP/JPY break Point 149.80. GBP/JPY trades below break point. Bottom contained by 147.83, 147.64 and 147.46. Thick supports 147.64 and 147.65. Above target 148.94 on break 148.58.

GBP/CAD break Point 1.7575, GBP/CAD trades below break point. Above 1.7575, targets for today only, 1.7566, 1.7599 and 1.7610. Below contained by 1.7478, 1.7455, 1.7456 and 1.7434.

GBP/NZD break Point 1.9309, GBP/NZD trades above break point. Above 1.9444, targets 1.9474 and 1.9489 and 1.9504. Below 1.9381, Targets 1.9356 and 1.9332.

GBP/AUD Break Point 1.7984, GBP/AUD trades above break point. Below break at 1.8190 targets, 1.8158, 1.8131 and far below target 1.8112.

GBP/CHF. Break Point 1.3443, GBP/CHF trades above break point. Below 1.3556 targets 1.3532 and solid line at 1.3515 then 1.3498. Above targets 1.3619 to 1.3635.

Overall in 6 GBP pairs, 3 pairs trade below vital break points GBP/USD, GBP/JPY and GBP/CAD while 3 pairs trade above vital break points, GBP/CHF, GBP/AUD and GBP/NZD.

Most wide ranging pairs among all 6 GBP pairs are in order GBP/NZD, GBP/AUD, GBP/CAD, GBP/JPY then GBP/CHF and GBP/USD share equal range billing.

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GBP/USD and GBP/CHF are least in the range scale while GBP/NZD is most wide yet most wide among all G10 currency pairs.

Why GBP/USD is least on the range scale is GBP remains deeply intertwined to USD and GBP/CHF shares equal range scale billing because GBP/CHF and GBP/USD are essentially the same pair yet GBP/USD trades below its break point while GBP/CHF trades above.

Brian Twomey

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