GBP/USD building a very slow recovery to first resistance at 1.3920/30 and the next target of and 1.3975/85 yesterday (we topped exactly here), before a retest of 1.4000/10.
EUR/GBP topped exactly at first resistance at last week’s high at 8712/19 & held 7 pips above first support at 8665/55.
GBP/NZD topped exactly at first resistance at 1.9300/20.
Today’s Analysis
GBP/USD topped exactly at the next target of 1.3975/85 before a retest of resistance at the March/April high of 1.4000/15. A break higher targets 1.4080 and 1.4120/30, perhaps as far as 1.4175/85.
First support at 1.3930/20. Longs need stops below 1.3905.
EUR/GBP topped exactly at first resistance at last week’s high at 8712/19 on Monday and held this level ever since. A break higher targets 8750/60.
First support at 8665/55 but below 8645 can target 8630/20 before support at 8600/8590. Below 8585 can target 8565/60.
GBP/NZD retests the 100 day moving average at 1.9190/80. A bounce from here retargets first resistance at 1.9300/20. If we continue higher look for strong resistance at 1.9410/20.
Strong support again at the 100 day moving average at 1.9190/80. Longs need stops below 1.9165. A break lower to targets 1.9105/00.
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