GBP/USD And GBP/JPY Daily Forecast - 25 April 2018

Published 04/25/2018, 02:41 AM
Updated 07/09/2023, 06:31 AM

GBP/USD & GBP/JPY

GBP/USD bounce hits and holds the first target of 1.3977/85 but I suspect we target 5 month trend line resistance at 1.4030/40 today. Try shorts with stops above 1.4070.

A break below 1.3925/15 targets minor 100 day moving average support at 1.3860. This may hold initially in oversold conditions but longs will be risky. A break lower eventually targets 1.3824/20 and 1.3790/80 before the March low at 1.3720/10.

GBP/JPY is in a short term bull trend and holding above 151.80/85 re-targets 1.5220, 1.5235/40 and 152.55/60. Bulls then need a break above 152.80 for the next move towards 153.10 and 153.35/40.

Failure to hold above 151.70 risks a slide to short term trend line support at 151.15/10. A break below here however could target 150.55/45.

Latest comments

Loading next article…
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2025 - Fusion Media Limited. All Rights Reserved.