GBP/USD, EUR/GBP, GBP/NZD Forecast

GBP/USD has been behaving erratically and randomly, up one day, down the next day in the sideways trend through July so far.

EUR/GBP topped exactly at first resistance at 8555/75 on the bounce.

GBP/NZD no pattern or trend to judge direction—moves are random and erratic.

Analysis

GBP/USD was on the way to very minor support at recent lows at 1.3745/35 on Friday. A break below 1.3725 this week targets the 200 day moving average at 1.3700/1.3690. A break below 1.3680 is a sell signal targeting 1.3585/65. First resistance at 1.3835/55. Shorts need stops above 1.3860.

EUR/GBP shorts at first resistance at 8555/75 to re-target 8530/8520 and perhaps as far as last 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 holding below 1.9665/55 targets 1.9570/60. Holding above 1.9665/55 can target first resistance at 1.9770/80. A break above 1.9800 targets 1.9840/45.

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 realized. 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.

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