TriumphFX – Forex Analysis – GBP Pairs – July, August & September 2021


Previous analysis… https://analysis.tfxi.com/2021/04/02/triumphfx-forex-analysis-gbp-pairs-april-may-june-2021/

EURGBP – Daily Chart

EURGBP Daily Chart

As suggested in our last chart analysis, the EURGBP has been bearish.

Price was down-trending but is currently moving within a range. The daily moving averages confirm the market indecision – they are starting to tighten and move sideways, The EURGBP is ranging between 0.8490 and 0.8720.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). If the EURGBP breaks to the downside, the downtrend could continue. If price breaks to the upside, the EURGBP could find resistance around 0.8875 and 0.9140.

GBPCHF – Daily Chart

GBPCHF Daily Chart

As suggested in our last chart analysis, the GBPCHF found support around the shorter-term moving average and the 38.2% Fib level.

Price was up-trending but is currently moving sideways and looking indecisive. The moving averages confirm the market indecision – they are tightening and are moving sideways. The GBPCHF is ranging between 1.2550 and 1.2820.

Trading opportunities may exist around the support and resistance areas of the range and if price moves out of the range (break-out trade). A break to the upside could find resistance around 1.3030. A break to the downside could find support around 1.2170 and 1.1745.

GBPJPY – Daily Chart

GBPJPY Daily Chart

Price swung higher, as suggested in our last GBP analysis.

GBPJPY has since been in a retrace move. The moving averages are still bullish, suggesting that the upside trend may continue.

Opportunities to go long could exist around the longer-term moving average and around the horizontal levels at 148.80 and 142.00. A bullish move may be rejected or reverse around the shorter-term moving average and around the horizontal resistance levels at 153.30 and 155.90.

GBPUSD – Daily Chart

GBPUSD Daily Chart

Price has been moving sideways.

GBPUSD was up-trending but has recently been moving sideways. The moving averages confirm the market indecision – they are tightening and are moving sideways. Price is ranging and has formed a horizontal channel at 1.3630-1.4220.

Trading opportunities may exist around the support and resistance areas of the range and if GBPUSD moves out of the range (break-out trade). A break to the downside could find support around 1.3400.

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