GBP/USD hits some minor profit taking in the January bull trend. First support at 1.3125 then better support at 1.3090/85. Look for a buying opportunity at 1.3060/50, with stops below 1.3030.
The bulls are in control, so recovery is always possible despite overbought conditions. Above 1.3170 re-targets 1.3210/15. On further gains look for 1.3235, 1.3255/60, 1.3290/99.
GBP/JPY is breaking below 143.75/65 as I write. Holding below 143.45 risks a slide to 143.10/05 then support at 142.70/60. If we continue lower look for strong support at 142.00/141.90.
First resistance is at 144.35/45. Further gains retest 144.80/90. A break higher targets strong resistance at 145.20/30. Watch for a high for the day in overbought conditions. A break above 145.45, however, targets 146.00/10.
First support at 144.45/35 but below here is less positive and risks a slide to the downside should be limited so watch for a bounce from here. Longs need stops below 143.45.