|Day's Range||152.371 - 152.144|
|52 Week Range||150.4809 - 152.1438|
The British pound did very little during the trading session on Wednesday, as we continue to meander around the 152.50 level. There is also minor support at the 152 handle, so we are essentially going sideways more than anything else. We have recently seen a nice move to the upside, so it makes sense that we may need to take a bit of a breather at the first signs of significant resistance.
The British pound rallied against the Japanese yen during the trading session on Tuesday, as we had a bit of a “risk on” move, sending the Japanese yen lower overall. Ultimately, this market looks as if it is trying to go much higher, so it’s likely that the pair could go much higher.
The British pound initially pulled back during the trading session on Monday, testing the 151 handle. However, we found enough support to turn things around as we continue to find buyers on value, and it looks like we are trying to form some type of base.
The GBP/JPY has been in a steady uptrend on H4 timeframe, and after touching 153.87 it started a retracement. Don’t be confused, as the pair is still in uptrend and we might see a rejection from POC if the price gets in the zone 149.60-85. However, pay attention to 151.50 too. If the pair makes a 4h close above 151.52 we should see a bounce towards 152.36. Above 152.36 there is a possibility of a cont-breakout pattern towards 153.75 retest. Only below W L4 – 148.97 the pair might start a downtrend.
The British pound initially tried to rally against the Japanese yen during the week, but found the upward momentum lacking, thereby rolling over and reaching towards the 151 handle during the Friday session. However, we have several support levels underneath that should give buyers some hope.
The British pound fell during the Friday session, reaching down towards the 151 handle, which looks to be offering a bit of support. I think that the market is going to make a significant decision rather soon, and a couple of levels could be important places to watch.
The British pound initially fell during trading on Thursday but found enough support near the 152 level to turn things around and show signs of strength again. I believe that this market will continue to act as a barometer for risk appetite around the world, and therefore should be looked at as such.
Given the USDJPY’s sustained trading above fortnight-old ascending trend-line, the pair is likely to challenge the 107.85-90 horizontal-resistance, which if broken could escalate its recovery towards 108.45 and the 108.90 north-side numbers. If prices keep rising after 108.90, the 109.30 and the 109.80 can offer intermediate halts during its rally to 110.50. In case of the pullback, the 107.15 may become nearby rest for the pair ahead of highlighting the 106.90 TL, breaking which 106.60 & 106.10 shouldn’t be missed if holding short positions. Moreover, the 105.60 and the 105. ...
The British pound fell against the Japanese yen in early Wednesday trading, dropping down to the 152.00 region. We did bounce from there quite significantly though, and although this has been a very negative turn of events, I think looking around the Forex world, the British pound is trying to make a stand.
The British pound has gone sideways in general during the trading session on Tuesday, bouncing around the 153 level. This is an area that has been important more than once, both on the way up and the way down, so I suspect that we will see a lot of noise.
The British pound rallied rather significantly against the Japanese yen on Monday, as traders came back from the weekend with a bit more of a positive attitude. The 153.75 level above is a bit of resistance as it was the previous high, but it looks very likely that we are going to continue to see a lot of bouncing around before we can clear that area.
The British pound rallied significantly against the Japanese yen over the last week, breaking above the 153 level, and looking very likely to go towards the 155 handle above. We could get the occasional pullback, but obviously this has been a very bullish move, as we have not only broken above the top of a major uptrend line that had been broken below previously, but it also looks as if tensions between the US and China may be waning a bit.
The British pound rallied a bit during the trading session towards the 153.80 level, but then rolled over again later in the day. This shows that we will continue to be volatile, but I think that the market has made a strong showing of itself over the last several sessions.
The British pound rallied significantly during the trading session on Thursday, breaking to a fresh, new high. Because of this, I believe that we will continue to see a lot of value hunters coming into the marketplace. It looks as if we have much further to go.
The British pound initially rallied, but then fell rather significantly on Wednesday against the Japanese yen. Near the 151.25 level we found enough support to turn things around and rally, and it now looks as if we are going to go towards the 152 handle. A break above the recent highs could be yet another sign that we are going towards the 155 level over the longer term.
The British pound rallied a bit against the Japanese yen during the session on Tuesday, as we are starting to see a bit of calming the US-China relations, which is exactly what the markets need to see so that they can continue to rally.
The British pound broke above the previous uptrend line that had been a major barrier once it was broken below. By doing so, it showed intense strength on Monday, and it looks likely to continue going higher. However, remember that this pair is highly sensitive to headlines and risk appetite.
The British pound initially fell against the Japanese yen this week but turned around to reach towards the previous uptrend line to find resistance.
The British pound initially rally during the trading session on Friday but struggled at the previous uptrend line to form a bit of a shooting star. Confusion remains a major situation.
The British pound has been very noisy during trading on Thursday, dipping back towards the 150 level before finding a bit of support. I believe that the market will continue to find the 150-level important, and with the jobs number coming out today, we could have a significant amount of volatility and risk appetite come in and out of the market.
The British pound fell initially against the Japanese yen during the trading session on Wednesday, but then turned around to rally significantly, reaching towards the 150 handle again.
With a week-long descending trend-line aptly restricting the USDJPY’s latest recovery, the pair seems well inclined to re-test an upward slanting TL support, at 105.75 now, breaking which it can decline to 105.25 and then to the 105.00 round-figure. Though, 104.60 could restrict the quote’s additional downside, failing to which can highlight 61.8% FE level of 104.10. On the upside, aforementioned trend-line number of 106.70 may keep disappointing the short-term buyers, which if broken could escalate the pair’s moves towards 107.20 and 107.65 while 107. ...
The British pound rallied significantly during the day on Tuesday, showing signs of life again. This of course helps the whole risk appetite of the markets, but we are still not out of the woods yet.
GBPUSD bounced nicely from the neckline yesterday and it was looking like we are about to see a sweet drop aiming the long-term up trendline. This drop did not happen and today, the price is testing the neckline again. The comeback is so strong that we have a high chance of breaking the neckline, which will cancel the H&S formation.