Plotting future moves in GBP, JPY, and NZD - Nicole Elliott

Today’s Forex Market Technical Update featuring a discussion on GBP/USD, Yen, and NZD, with Nicole Elliott, Private Investor and Technical Analyst, and joined by Zak Mir, Technical Analyst at Zak’s Traders Cafe, and Mike Ingram, Strategist at BGC Partners.

Highlights:

GBP/USD – Currently in a triangle holding pattern below large falling channel seen on monthly chart. Cable is very very cheap now.

“Pound would likely go towards 1.37-1.38 ..then fresh longs come-in and it would possibly tank”

Japanese Yen – Long-term trend in Japanese Yen is bullish

New Zealand dollar – Yield differential rally in NZD