GBPJPY recovered more than 150 pips from a minor bottom of 162.73 on a weak yen. Pound sterling pared some of its losses against the US dollar on short covering. The policy divergence between the US fed and BOE puts pressure on GBP at higher levels. Technically 4-hour chart, holds below short-term 55-EMA, above 55 EMA, and long-term 200 EMA (163.53). Any decline below 163.50 will take the pair to the next level 162.70/162/160.80/159. GBPJPY hits an intraday high of 164.44 and is currently trading around 164.07.
The near-term resistance is around 164.50, a breach above targets 165/166.35/167/168/168.70.
Indicators (4-hour chart)
CCI (50) – Bearish
ADX- Neutral
It is good to sell on rallies around 163.95-164 with SL around 165 for TP of 160.60.


FxWirePro: GBP/USD edged higher as hopes for US-Iran deal boost riskier assets
FxWirePro- Major Crypto levels and bias summary
EUR/JPY Bulls Hold the Line Above 185: Eyes Locked on 188 Breakout
FxWirePro: USD/JPY remains in familiar place on intervention threat
FxWirePro: GBP/AUD recovers some ground, geopolitics holds center stage
EURJPY Extends 5-Day Winning Streak Toward 186 — Bulls Reload on Dips for 188 Target
FxWirePro: EUR/AUD downward momentum remains in place
FxWirePro: GBP/USD remains range-bound amid growing Middle East instability concerns
FxWirePro: GBP/AUD downside pressure builds, key support level in focus
NZDJPY Dips to 95.10: Bulls Buy the Pullback as Key 93.50 Support Keeps Uptrend Intact
FxWirePro: GBP/NZD recovers some ground but bearish outlook persists
FxWirePro: USD/CAD bulls continue to hold the higher ground
FxWirePro: USD/CNY dips as Yuan firms despite weak China factory data
Pound Power Drives GBPJPY Past 214.50 — Buy-the-Dip Setup Targets 217
ETH Cracks Below $2K: $241M ETF Selloff Sparks 14-Day Exodus as Bears Target $1,700
AUDJPY Powers Above 114.50 on Aussie Strength—Bulls Target 116.25 on Dips to 113.85
FxWirePro: USD/ZAR recovers some ground but outlook is bearish 



