GBP/USD erratic and random, up one day, down the next day in the sideways trend through July so far. Same levels apply for today.
EUR/GBP shorts at first resistance at 8555/75 worked perfectly. We topped exactly here for a 50 pip profit.
GBP/NZD no pattern or trend to judge direction – moves are random and erratic.
Today’s Analysis
GBP/USD holding below minor resistance at 1.3835/55 re-targets 1.3815/10, perhaps as far as 1.3745/35.
Above 1.3860 allows a recovery to resistance at 1.3930/40. A high for the day possible. However a break above 1.3960 signals further gains to 1.3985/95.
EUR/GBP shorts at first resistance at 8555/75 worked on the slide to 8530/8520 & almost as far as this week’s low at 8505/00. We are in a slow bear trend so a break lower targets 8480/70.
First resistance at 8555/75. A break higher targets 8615/20. Above here is a buy signal initially targeting 8640/50, perhaps as far as 8670.
GBP/NZD first support at 1.9665/55. A break lower targets 1.9570/60.
First resistance at 1.9770/90. A break above 1.9800 targets 1.9840/45.
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