GBP/USD , GBP/JPY Daily Forecast: August 17, 2018
Jason Sen | Aug 17, 2018 04:51AM ET
GBP/USD bounce targets 1.2730/33 & resistance at 1.2770/80. Further gains meet a selling opportunity at 1.2825/35, with stops above 1.2855.
A break below 1.2660 targets 1.2640/30 & perhaps as far as support at 1.2580/70.
GBP/JPY severely oversold after losses of over 700 pips in just 2 weeks. HOWEVER with no buy signal longs are too risky.
Holding above 140.70/75 & re-targets 141.24/27. We topped exactly here yesterday but on further gains look for 141.70 & a selling opportunity at 142.10/20.
A break below 139.80 risks a slide to 139.35/25.
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