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Pound Under Pressure as Yen Stabilizes: GBPJPY Bears Target 208 as Key EMAs Hold Resistance 
- RES 4: 0.7395 ( Sep 1st high)
- RES 3: 0.7350 (61.8% retracement of 0.7420 and 0.7250)
- RES 2: 0.7320( Cloud top)
- RES 1 0.7276(20 day 4 HMA)
PRICE: 0.7226 @ 12:44 GMT
- SUP 1: 0.7240 (Aug 30th Low)
- SUP 2: 0.7220( 200 day 4 HMA)
- SUP 3: 0.7168 (61.8% retracement of 0.7027 and 0.7420)
- SUP 4: 0.7100
EUR/GBP has broken major support 0.7240 which confirms short term bearishness, decline till 0.7160/7100 cannot be ruled out.
Short term trend is bearish as long as resistance 0.7280 holds.
On the higher side minor resistance is around 0.7280 and any break above would extend gains till 0.7320/0.7360.
It is good to sell on rallies around 0.7245-50 with SL around 0.7280 for the TP of 0.7160/0.7100.
