FX: GBP pairs in focus: By Mary McNamara

Bitcoin has been grabbing most of the trading headlines but the GBP is doing its bit on the conventional FX front. There has been a bit of movement on GBP pairs following recent news of a potential Brexit Divorce settlement, or, is this more due to recent feel-good wedding news for Prince Harry? Either way, its making for some potentially exciting chart action on the Cable as it butts up against a major 3-year bear trend line, on the GBP/JPY as it heads back to 150 and on the GBP/NZD as it battles the weekly 200 EMA. The NASDAQ traded lower today as Financials were more in favour but this gave a great TC 5 min trade off the NASDAQ-100 index.

GBP/USD: the Cable has rallied and is now up at a major 3-year bear trend line making for some exciting watching; if you’re in to that kind of thing! This move also triggered a decent TC 15 min LONG signal for 5 R:

GBP/USD 4hr:

GBP/USD 15 min:

GBP/USD weekly: this chart hasn’t update for the last session but it gives the overall weekly picture here. The Cable looks like it could be gearing up for some exciting trend line activity as any triangle breakout could be worth up to 3,000 pips!

GBP/JPY: this pair is getting exiting too as it heads back up to 150 major S/R as any break and hold above this level and out of the recent triangle pattern could support a push to 160, some 1,000 pips away!

GBP/JPY 4hr: there has been a recent trend line breakout here for 180 pips BUT now watch the 150 level and the 4hr chart trend lines for any new breakout:

GBP/JPY monthly: note how the 160 level is the next major S/R zone if the 150 can be cleared:

GBP/AUD 4hr: this breakout has given 200 pips with price not butting the weekly 200 EMA so watch this for any new make or break:

GBP/NZD: watch the weekly 200 EMA now as price has moved above this resistance zone for any potential push up to 2.0 S/R, some 500+ pips away:

GBP/NZD 4hr: the 2.00 level will be in focus if this weekly 200 EMA is cleared:

GBP/NZD weekly: note the importance of the 2.00 S/R level:

NASDAQ-100 5 min: a great 5 min chart TC SHORT breakout trade off this index for 4.5 R:

Other Forex: watch trend lines for any new breakouts:

EUR/USD 4hr:

EUR/JPY 4hr:

AUD/USD 4hr:

AUD/JPY 4hr:

NZD/USD 4hr:

USD/JPY 4hr:

EUR/AUD 4hr:

EUR/NZD 4hr:

Gold 4hr:

Oil 4hr: price is still choppy near the weekly 200 EMA:

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