GBP/USD And GBP/JPY Daily Forecast - 12 July 2018
Jason Sen | Jul 12, 2018 03:54AM ET
GBP/USD support at 1.3210/05 is much less likely to hold today and a break below 1.3185 risks a slide to 1.3170/65 and 1.3120/15.
Gains are likely to be limited with minor resistance at 1.3240/45 and stronger 1.3285/90. Shorts need stops above 1.3315.
GBP/JPY holds the June high at 148.00/10 but the better selling opportunity is at 148.30/40, with stops above 148.90. A break higher is a buy signal targeting 149.50/60.
Risks are to the downside with minor support at 147.50/45 and better support at 147.10/00, the best chance of a low for the day but longs are still risky. Next downside target is 146.50/40.
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