GBP/USD And EUR/GBP Short Term Outlook Negative

key resistance at 1.3950/60 today. A break higher targets 1.4000/20.

Downside is expected to be limited with minor support at 1.3900 then a buying opportunity at 1.3870/60 with stops below 1.3845. Buy again at 1.3790/70 with stops below 1.3730.

holding 8560/50 allows a recovery to 8588/94 with further resistance at 8505/15.

We held minor support at 8560/50 but a break below 8540 is the next sell signal, targeting 8500/8490.

Trends

  • Weekly Outlook Positive
  • Daily Outlook Negative
  • Short Term Outlook Negative
GBP Chart
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