GBP/USD, GBP/JPY Daily Technicals: June 5, 2018

Published 06/05/2018, 08:32 AM
Updated 07/09/2023, 06:31 AM
GBP/USD
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GBP/JPY
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Spot GBP/USD And GBP/JPY

GBP/USD appears to be forming a sideways trend with first resistance at 1.3340/50. Second resistance at 1.3400/10. It is likely to be a slow crawl higher, but above here look for 1.3440/50 then a selling opportunity at 1.3480/90.

Failure to beat 1.3340/50 targets first support at 1.3275/70 & below here shows bears still in full control with a retest of 1.3210/00 likely. We could continue lower to 1.3175/70 & 1.3130/20.

GBP/JPY topped at 146.90 & hit profit taking to 145.82. Best support today at 145.80/70, but longs need stops below 145.50. Further losses target 145.20/10.

Holding 145.80/70 allows a recovery to towards 146.80/90 before resistance at 147.20/30. Try shorts with stops above 147.60.

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