GBP/USD Mid-Day Outlook

USD/JPY stayed in consolidation below 148.79 last week and outlook is unchanged. Initial bias remains neutral this week first. With 145.97 resistance turned support intact, further rally is in favor. As noted before, corrective fall from 151.89 should have completed at 140.25 already. Break of 148.79 will resume the rise from there for retesting 151.89/93 […]

GBP/JPY’s rebound 178.32 is in progress and intraday bias stays on the upside. Current rise should target a test on 188.63 high. On the downside, break of 182.73 support is needed to indicate completion of the rebound. Otherwise, further rally will remain in favor in case of retreat. In the bigger picture, price actions from […]

Daily Pivots: (S1) 1.2396; (P) 1.2481; (R1) 1.2535; More… Intraday bias in GBP/USD is turned neutral with 4H MACD crossed above signal line. Some consolidations would be seen first, but recovery should be limited by 1.2577 minor resistance to bring another fall. On the downside, break of 1.2425 will resume the decline from 1.2892 to […]