GBPJPY: Thoughts and Analysis Pre-UK GDP
Today's focus: GBPJPY
Pattern – Breakout
Support – 188.25? 186.14
Resistance – 189.88
Hi, traders; thanks for tuning in for today's update. Today, we are looking at the GBPJPY on the daily chart.
After what looked like a new breakout, sellers have started to test buyer confidence after news hit JPY traders yesterday. The question remains: will we see buyers hold the breakout and continue to push higher, or will we see sellers break through and possibly retest 186.14 support?
Another factor to keep an eye on is UK GDP; it's due at 6 pm AEDT today.
Good trading.
Pattern – Breakout
Support – 188.25? 186.14
Resistance – 189.88
Hi, traders; thanks for tuning in for today's update. Today, we are looking at the GBPJPY on the daily chart.
After what looked like a new breakout, sellers have started to test buyer confidence after news hit JPY traders yesterday. The question remains: will we see buyers hold the breakout and continue to push higher, or will we see sellers break through and possibly retest 186.14 support?
Another factor to keep an eye on is UK GDP; it's due at 6 pm AEDT today.
Good trading.