GBPJPY continues to trade weak for the past four days and lost more than 300 pips on the weak pound sterling. It has broken significant support at 1.17500 and trades below that level on board-based US dollar. Markets eye UK PMI data for further direction. Technically in the 4-hour chart, the pair is holding below short-term 21-EMA, 55 EMA, and below long-term 200 EMA (162.84). Any violation below 160.80 takes to the next level 160//159/158.GBPJPY hits an intraday low of 160.80 and is currently trading around 161.32.
The near-term resistance is around 162, a breach above targets 163/164.
Indicators (4-hour chart)
CCI (50) – Bearish
ADX- Neutral
It is good to sell on rallies around 161.75-80 with SL around 162 for TP of 159.


FxWirePro: GBP/NZD remains bullish as rally continues
NZDJPY: Bearish Bias Persists — Sell Rallies Near 90 Targeting 88
FxWirePro- Major Crypto levels and bias summary
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data
FxWirePro: GBP/USD recovers slightly from early decline ahead of Bank of England’s interest rate decision
AUDJPY: Bearish Setup Intact — Sell Rallies Near 103.30 Targeting 100
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
EUR/JPY Bearish Outlook Persists: Ifo Weakness Caps Upside, Sell Rallies Targeting 180 Below 183 Resistance
FxWirePro: GBP/AUD dive post-CPI short-lived as traders prepare for BoE decision
FxWirePro: NZD/USD dips as stronger U.S. dollar offsets NZ Q3 GDP surprise
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: AUD/USD struggle to extend its recovery,good to sell on rally
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
FxWirePro: EUR/NZD steadies ahead of ECB meeting 



