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GBP/USD, EUR/GBP And GBP/NZD Daily Forecast

By Jason SenForexMay 06, 2021 07:04AM ET
www.investing.com/analysis/gbpusd-eurgbp-and-gbpnzd-daily-forecast-200577963
GBP/USD, EUR/GBP And GBP/NZD Daily Forecast
By Jason Sen   |  May 06, 2021 07:04AM ET
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GBP/USD trades in an unpredictable, random and erratic sideways trend. Up one day, down the next day this week.

EUR/GBP lower to the next target of 8630/20 and bottomed exactly here.

GBP/NZD breaks back below the 4 month ascending trend line and 200 day moving average 1.9330/40 to retest support at the 100 day moving average at 1.9220/10, Longs need stops below 1.9190.

Today’s Analysis

GBP/USD minor support at 1.3880/70. Further losses target 1.3830/20.

Strong resistance at 1.3910/25. We topped exactly here so far this week. A break higher targets 1.3980/90.

EUR/GBP broke first support at 8665/55 to target 8630/20 before support at 8600/8590. Below 8585 can target 8565/60.

First resistance at 8665/75 but above 8685 can target 8712/19. A break higher targets 8750/60, perhaps as far as 8785/90.

GBP/NZD breaks back below the 4 month ascending trend line and 200 day moving average 1.9330/40 to test support at the 100 day moving average at 1.9220/10, Longs need stops below 1.9190. A break lower to targets 1.9170 and 1.9110/00. First resistance at 1.9330/40. Shorts need stops above 1.9355, targeting 1.9410/20 and resistance at 1.9480/1.9500. A break higher targets 1.9560/80.

GBP Chart
GBP Chart

Disclaimer: No representation or warranty is made as to the accuracy or completeness of this information and opinions expressed may be subject to change without notice. Estimates and projections set forth herein are based on assumptions that may not be correct or otherwise realised. All reports and information are designed for information purposes only and neither the information contained herein nor any opinion expressed is deemed to constitute an offer or invitation to make an offer, to buy or sell any security or any option, futures or other related derivatives.

GBP/USD, EUR/GBP And GBP/NZD Daily Forecast
 

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GBP/USD, EUR/GBP And GBP/NZD Daily Forecast

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Comments (2)
Kunle Israel
Kunle Israel May 06, 2021 8:05AM ET
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Do u scalp
Samiran Mukherjee
Samiran Mukherjee May 06, 2021 7:34AM ET
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I want every day hundred percent tips
 
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