GBP/USD held just 10 pips from very strong support at the July low at 1.3590/70.
EUR/GBP topped exactly at very strong resistance at 8575/90. Shorts need stops above 8600.
GBP/NZD is in an erratic sideways trend, ranging from 1.9690/70 up to 2.0060/80. Shorts at resistance at the 2021 high of 2.0060/80 worked perfectly.
Today’s Analysis
GBP/USD was holding very strong support at the July low at 1.3590/70. Longs need stops below 1.3550. A break lower is a sell signal targeting 1.3520/10 and 1.3460/50. Longs at 1.3590/70 target 1.3645/55 then first resistance at 1.3675/85. A break higher meets very strong resistance at 1.3725/25 for profit taking on any remaining longs. Shorts need stops above 1.3750.
EUR/GBP longs at first support at 8500/8490 worked as we hit targets 8525/30, 8565/75 and very strong resistance at 8575/90 for a potential 75 pip profit last week. Shorts need stops above 8600. A break above here is a buy signal, targeting 8665/70. First support at 8545/35.
GBP/NZD shorts at resistance at the 2021 high of 2.0060/80 worked as we targeted first support at 1.9960/50, then second support at 1.9900/90 for a potential 160 pip profit. Expect strong support at 1.9820/00. We topped exactly at resistance. Minor resistance at 1.9970/80. Strong resistance at the 2021 high of 2.0060/80. A break above 2.0100 therefore is a buy signal initially targeting 2.0250/70.
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