GBP/USD, EUR/GBP, GBP/NZD Daily Forecast
Jason Sen | May 20, 2021 04:44AM ET
GBP/USD topped exactly at the important 6 month trend line; resistance is now at 1.4220/30.
We wrote: Shorts at 1.4220/30 target 1.4170/60. If we continue lower look for 1.4130/20.
Perfect!! A potential 100 pips profit as we hit 1.4130/20. WE HAVE A MAJOR DOUBLE TOP SELL SIGNAL.
GBP/NZD we wrote: holding above 1.9550/60 targets 1.9620/30 (hit this morning) and the May high at 1.9660/70. A break above 1.9690 targets 1.9715/25.
All targets hit.
h2 Today’s Analysis/h2GBP/USD minor support at 1.4115/05. A break lower targets the 100 month moving average support at 1.4080/60, perhaps as far as support at 1.4025/15.
Gains are likely to be limited with minor resistance at 1.4135/40 and 1.4160/70.
An Important 6 month trend line resistance is now at 1.4220/30. A break higher targets the strong 200 week moving average resistance at 1.4300/10.
EUR/GBP has first support at 8600/8590, but below here re-targets 8565/60. A break lower to today targets 8530/20.
First resistance at 8640/50. A break higher re-targets 8665 and 8712/19. A break higher targets 8750/60, perhaps as far as 8785/90.
GBP/NZD reaches the target of 1.9715/25 and if we continue higher today, look for 1.9750/60 with strong resistance at 1.9800/20.
First support at 1.9635/30 then strong support at 1.9600/1.9580. Longs need stops below 1.9560.
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