Think we may see a push back to the high, price failed make a lower low!
Strong yearly pivot sits around 1311 area and has failed to be broken!!
Im not in this trade but if price action suits my entry price il be a short term bull
Has been a sharp sell of into the weeked, BOJ interest rates Wednesday?? ithink we may see a move twice as aggressive out of that zone next week!
GBP news has also been relatively good post brexit compared to other countries, mainly US and the Euro.
Chart pretty much explains itself!!
To add some fundamental analysis, ££ has been posting some positive figures post Brexit.
OB stands for order block, im expecting price to pin this area at some point in the next 3 weeks before closing the month around previous high area.
OK so as i published the GBP/JPY AND CADJPY charts so i thought i may as well show you what i see for the cross pair GBP/CAD.
Long term i see this reaching for fresh lows at 1.483 so until i get a Sell entry from 1.76 i wont be trading this pair!!
A break of 1.73 and BULLS should be safe up to 1.76 then you ...
Long term im BEARISH on this pair and i do believe we will be back to take out the low at 128.6 but for the short term im a BULL and i see the GBP rallying up against the JPY.
156.28, 162.19 and 165.74 are huge areas for me so i would expect price to start lagging i will be looking for sells up there but for now ...
Daily chart looks as though its had its 3 levels of fall, possible H/S forming at the lows.
My thoughts are that this pair is in the final stages of reversing before it starts retracing long term back up possibly into the 91 - 92 area!!
My 1st TP - 82.5 and 2nd TP - 83.80
My bias is short, Weekly chart has a solid rail road track off of 0.955 which is close to an all time high for this pair.
I expect a retracement back into 0.932 area before heading down to make some fresh lows!!