GBP/USD, EUR/GBP, GBP/NZD Update
Jason Sen | Nov 10, 2021 05:43AM ET
GBP/USD beat 1.3510/30 to target 1.3570/80 and my selling opportunity at 1.3600/20. Shorts here worked perfectly with a high for the day at 1.3607 and a collapse to my target of 1.3525/15. In fact this was also the low for the day.
EUR/GBP shorts at the 200 day moving average at 8585 worked on the slide to second support at 8520/10 for profit taking on any remaining shorts. A low for the day exactly here so longs also worked on the bounce to 8550.
GBP/NZD shot higher to strong resistance at 1.9050/70 but shorts need stops above 1.9090 (which looks likely today's high as I write).
h2 Today's Analysis/h2GBP/USD try shorts again at 1.3600/20 targeting 1.3560, perhaps as far as minor support at 1.3525/15. Below here look for 1.3470/60. A selling opportunity at 1.3600/20. Try shorts with stops above 1.3635. A break higher targets 1.3570/75.
EUR/GBP holding below 8550 retests support at 8520/10. Try longs again with stops below 8500. A break lower targets 8475. Longs at 520/10 target 8550 before first resistance at the 200 day moving average at 8585/95. A break above 8600 is a buy signal for this week.
GBP/NZD shorts at strong resistance at 1.9050/70 target 1.9895, perhaps as far as 1.8950. A break above 1.9090 targets 1.9170/80.
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