GBP/USD: Topped; EUR/GBP: Bottomed

topped exactly at strong resistance at 1.3835/45.

bottomed exactly at the next downside target and support at 8500/8490.

Today’s Analysis

GBP/USD meets strong resistance a little higher at 1.3860/70 today. Bulls need a break above 1.3885 to target 1.3940/50.

Holding resistance at 1.3835/45 targets 1.3820/00 with support at 1.3785/75.

EUR/GBP holding the next downside target of 8500/8490 so far last week. Obviously this is today’s support level. A break below 8475 however risks a slide to 8450/40.

First resistance at 8565/75. Bulls need a break above 8585.

GBP Weekly Chart

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