GBP/JPY has shown a minor recovery after hitting low of 146.94. The pair formed a minor top around 152.86 on Sep 25th 2017 and any further bullish continuation can be seen only above that level. GBP was trading weak agai…
GBP/JPY has shown a minor recovery after hitting low of 146.94. The pair formed a minor top around 152.86 on Sep 25th 2017 and any further bullish continuation can be seen only above that level.
GBP was trading weak against all major pairs on political turmoil. The pair reached almost near 1.3000 form 1.3400 in previous week as Theresa May leadership is on doubt.
The pair’s intraday trend is still weak as long as 148.50 holds. Any break above 148.50 will take the pair to next level till 149.73 (10- day MA)/150.82 (61.8% fibo). Overall bullish continuation only above 152.85.
On the lower side, any convincing close below 147 will drag the pair to next level till 146.29 (55- day EMA)/145.63 (61.8% retracement of 139.30 and 152.85).
It is good to sell on rallies around 148 with SL around 148.51 for the TP of 147/146.30.
