Near the 200-4H EMA, GBPJPY found support and displayed a small surge on a weak yen. At about 200, the couple is encountering stiff opposition; further bullishness is confirmed by any price above 200. Presently trading around 199.92, the pair hit an intraday peak of 199.958.
The pair is trading above 55, 200 EMA, and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend. Any violation below 199 indicates the intraday trend is weak. A dip to 198.75 /198/197.85/197.25/ 196.70/196.20/195 is possible. Immediate resistance is at 200, a breach above this level targets 200.53/201.26/ 202/203.
Market Indicators ( 1-hour chart)
CCI (50)- Bearish
Directional movement index - Neutral
Trading Strategy: Sell
It is good to sell on rallies 200 with SL around 200.75 for a TP of 198.50.


FxWirePro: EUR/AUD outlook weaker on renewed downside pressure
FxWirePro:EUR/NZD stuck In narrow ranges, focus on near term support
Major Pair Action Bias: Extremely Bullish Surge Powers GBPUSD & NZDUSD as Bullish Momentum Ignites
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
ETH Stands Alone Bullish; BTC, SOL, XRP, BNB Neutral
FxWirePro: NZD/USD trades in narrow range ,outlook bullish
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
NZDJPY Bullish Surge: Strong Kiwi Ignites Fresh Upside as 94 Support Holds and All EMAs Align
FxWirePro: GBP/USD under pressure despite UK's modest economic growth
GBPJPY Bullish Surge: Strong Pound Ignites Fresh Upside on Fed-BOE Policy Divergence as All EMAs Align
FxWirePro: EUR/AUD neutral in the near term, scope for downward resumption
FxWirePro: USD/CAD falls after BoC rate hold and weak U.S. producer inflation
FxWirePro:EUR/NZD dips below lower range, bearish bias increases
FxWirePro: GBP/USD hits one-month high, scope for further upside
Gold Loses Steam After Strong U.S. Retail Sales
JPY Action Bias: CADJPY Turns Extremely Bullish While Other Pairs Hold Positive Ground 



