From 1.2396 close, major break points and main price drivers 1.2519 and 1.2550. Most vital 1.2519. Nothing special in GBP MA’s. Challenge to 1.2519 must break uptrend lines at 1.2449 and 1.2486. Currently oversold, good targets and most comfortable locations are 1.2420 to 1.2449.
From 1.6440 close, Major break points 1.6475 and 1.6494. Strategy: shorts below both. Targets below are downtrend lines at 1.6378 and 1.6335. GBP/CAD trades below MA’s 5 to 100 day. 100 day 1.6461.
From close 1.7503, Major break points below 1.7474 and 1.7429. Price above targets uptrend lines at 1.7534 and 1.7639. Below, targets downtrend lines at 1.7324 and 1.7310. GBP/NZD is the granddaddy mover among all FX currency pairs in G10. Only other pair to beat GBP/NZD is USD/BRL.
From close 1.6197, major break points 1.6436 and 1.6613. Uptrend lines begin at 1.6261, 1.6420 and 1.6398. Wide wide ranging pair, second to GBP/NZD.
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