Daily Pivots: (S1) 179.50; (P) 180.62; (R1) 181.41; More… Intraday bias in GBP/JPY remains neutral and some more consolidations could be seen above 178.32. But near term outlook stays bearish as long as 184.30 resistance holds. Decisive break of 178.02/32 support zone will resume whole fall from 188.63 to 38.2% retracement of 148.93 to 188.63
GBPJPY Outlook
Much volatility was seen in GBP/JPY, as it reversed after failing to break through 184.44 support turned resistance, and then dived to 178.32, then recovered again. Initial bias stays neutral this week first. Deeper decline is expected as long as 184.30 resistance holds. Break of 178.32 will resume the whole fall from 188.63. Sustained break
Daily Pivots: (S1) 179.23; (P) 180.22; (R1) 182.10; More… GBP/JPY recovered after dipping to 178.32 and intraday bias is turned neutral first. Deeper decline is expected as long as 184.30 resistance holds. Break of 178.32 will resume the whole decline from 188.63. Sustained break of 178.02 will pave the way to 38.2% retracement of 148.93
Daily Pivots: (S1) 179.30; (P) 181.22; (R1) 182.25; More… GBP/JPY’s breach of 178.58 support indicates resumption of whole fall from 188.63. Intraday bias is back on the downside. Break of 178.02 support will pave the way to 38.2% retracement of 148.93 to 188.63 at 173.46. For now, risk will stay on the downside as long
Daily Pivots: (S1) 182.14; (P) 182.87; (R1) 183.45; More… Intraday bias in GBP/JPY stays neutral for the moment. On the downside, break of 181.66 minor support will suggest that rebound from 178.58 has completed. Intraday bias will be back to the downside for retesting 178.58 low. Overall outlook will stay bearish as long as 184.44
Daily Pivots: (S1) 182.01; (P) 183.17; (R1) 184.68; More… Intraday bias in GBP/JPY is turned neutral first with current retreat. On the downside, break of 181.66 minor support will suggest that rebound from 178.58 has completed. Intraday bias will be back to the downside for retesting 178.58 low. Overall outlook will stay bearish as long
Daily Pivots: (S1) 180.22; (P) 181.14; (R1) 182.71; More… GBP/JPY’s recovery from 178.78 extends higher today but outlook is unchanged. Upside of recovery should be limited below 184.44 support turned resistance to bring another decline. On the downside, below 181.66 minor support will bring retest of 178.68 support first. Firm break of will resume the