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    British Pound Technical Analysis: GBP/USD, GBP/AUD, GBP/CAD, GBP/NZD

    Abstract:BRITISH POUND, GBP/USD, GBP/AUD, GBP/CAD, GBP/NZD – TECHNICAL OUTLOOK
    •   The British Pound seeing mixed performance against major counterparts

    •   GBP/USD trend remains favored lower, with GBP/AUD eyeing more gains

    •   GBP/CAD consolidates with upside bias, GBP/NZD faces key resistance

    gbp-usd-surged-on-strong-uk-retail-sales-pmi.jpg

      The British Pound is attempting to regain some lost ground against the US Dollar as of late, but the broader trend remains biased cautiously lower for GBP/USD. A combination of a ‘Death Cross’ between the 20- and 50-day Simple Moving Averages (SMAs) and the breakout through rising support from 2020 underpin a bearish outlook. Keep a close eye on the 50-day SMA, it could reinstate the focus lower if prices aim higher.

    GBP/USD DAILY CHART
    British

      The British Pound may extend gains against the Australian Dollar as GBP/AUD continues to trade above the former 1.8453 – 1.8527 resistance zone. This is as a ‘Golden Cross’ between the 20- and 50-day SMAs continues to uphold a near-term upward bias. Immediate resistance appears to be the 123.6% Fibonacci extension at 1.8789. Keep a close eye on the SMAs in the event of a turn lower. These may act as key support.

    GBP/AUD DAILY CHART
    British

      The British Pound may continue its consolidation against the Canadian Dollar. Although, GBP/CAD‘s bias could remain favored cautiously to the upside. This follows a break above a falling trendline from February and a ’Golden Cross between the 20- and 50-day SMAs. Immediate resistance points seem to be at 1.7427 followed by 1.7570. In the event of a turn lower, keep a close eye on the 1.7177 – 1.7230 inflection zone.

    GBP/CAD DAILY CHART

    British

      The British Pound may also continue to aim cautiously higher against the New Zealand Dollar, with rising support from December underpinning GBP/NZDs upside bias. Immediate resistance seems to be the 1.9879 – 1.9961 inflection zone. However, keep a close eye on RSI. Negative divergence may emerge in the event prices expose the August high of 2.0271. That would be a sign of fading momentum, hinting at a turn lower.

    GBP/NZD DAILY CHART
    British
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    United States Dollar

    • United Arab Emirates Dirham
    • Australia Dollar
    • Canadian Dollar
    • Swiss Franc
    • Chinese Yuan
    • Danish Krone
    • Euro
    • British Pound
    • Hong Kong Dollar
    • Hungarian Forint
    • Japanese Yen
    • South Korean Won
    • Mexican Peso
    • Malaysian Ringgit
    • Norwegian Krone
    • New Zealand Dollar
    • Polish Zloty
    • Russian Ruble
    • Saudi Arabian Riyal
    • Swedish Krona
    • Singapore Dollar
    • Thai Baht
    • Turkish Lira
    • United States Dollar
    • South African Rand
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