The GBP/JPY sees contracting resistance from late August’s peak near 186.75, with lower highs tapping out a descending trendline. The near-term floor has been priced in near 183.45, and 4-hour chart technical indicators are beginning to flash oversold conditions.
if buyers regain control of the market and spark a solid rebound off current levels, trendline resistance is positioned at 184.62.
if buyers regain control of the market and spark a solid rebound off current levels, trendline resistance is positioned at 184.62.