Fri 25th November 2022

Today, Our Daily Currency Strength Weakness Video will focus on:

  • GBPUSD
  • NZDUSD
  • NZDCAD

Charts Provided by Charles Clifton

Daily Analysis By Jon Kibbler

GBPUSD- Price At A Key Resistance Zone

In today’s currency strength video we will be looking at 3 currency pairs that have featured on the tables for some time.

The GBPUSD, NZDUSD and NZDCAD have all featured on the charts since the middle to end of October. 

Since then the GBPUSD has rallied over +700 pips, NZDCAD has rallied over +450 pips and NZDUSD has rallied over +500 pips. 

These currency pairs are all approaching key areas of resistance so managing positions or not entering at the top of a trend is important. 

Technical Observations

  • The USD is W1 on the both tables and the GBP is S1 on the day traders tables.
  • Price has rallied over 700 pips since last featured on the tables.
  • Now price is approaching key higher time frame resistance zones.
  • Traders long could be taking profits at these levels so we may need to consider our trading opportunities from here.
  • The resistance of 1.2250 and daily 200 moving average would be likely targets for traders long.
  • Day traders may want to look for short term long ideas but only for a short term move.

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