GBP/USD & GBP/JPY Daily Forecast For May 9, 2018

Published 05/09/2018, 03:40 AM
Updated 07/09/2023, 06:31 AM
GBP/USD
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GBP/JPY
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GBP/USD & GBP/JPY Chart

GBP/USD first resistance at 1.3570 but above here re-targets 1.3591 before stronger resistance at 1.3615/20. Unlikely, but if we continue higher look for 1.3660 then a selling opportunity at 1.3695/1.3705 with stops above 1.3745. A break below 1.3485 targets 1.3475/65 & 1.3415/10.

GBP/JPY manages a small bounce to minor resistance at 147.70/80 & 148.20/25 (now hit again) but we are unlikely to beat strong resistance at 148.60/65. Shorts need stops above 148.99.

Minor support at 147.75/70 but below here risks a retest of minor support at 147.10/00. Below here tests strong 1 year trend line support at 146.55/45. Try longs with stops below 146.10.

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