GBP/USD And GBP/JPY Daily Forecast - 15 August 2018
Jason Sen | Aug 15, 2018 01:45AM ET
GBP/USD lower again to the next target of 1.2710/00. Below 1.2700 targets 1.2670, 1.2640/30 and perhaps as far as support at 1.2580/70.
Gains are likely to be limited with bears in full control but I am watching for a buy signal in severely oversold conditions.
Minor resistance at 1.2810/20 then a high for the day likely at 1.2865/75 if reached. Shorts need stops above 1.2905.
GBP/JPY key resistance at 142.35/40 today in the bear trend. Shorts need stops above 142.80. A break higher targets strong resistance at 143.60/70.
Failure to beat minor resistance at 141.75/85 targets 141.45, 141.00/95 (held the downside perfectly yesterday) and 140.25/250. Below 140.00 risks a slide to 139.35/25.
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