These have been two of the more persistent bear trends in the crosses in recent months but both pairs are starting to show signs that a ‘bottom’ may be in place.

  • AUD/NZD has some sizeable topside potential in my biased opinion and once the current 1.0725/1.0925 consolidation is breached, I’m expecting this pair to regain and hold above 1.10 with a medium term target at 1.15+.
  • EUR/GBP has stalled at a major 61.8% retracement and this signal should be respected. I booked profits on my medium-term short position and whilst I still prefer to sell rallies, I can also see the merits in buying dips towards .8200 with stops below .8150.