GBP/USD And GBP/JPY Daily Forecast - 30 May 2018

Published 05/30/2018, 02:10 AM
Updated 07/09/2023, 06:31 AM
GBP/USD
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GBP/JPY
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GBP/USD & GBP/JPY

GBP/USD bounce from 1.3203 topped just 3 pips from strong resistance at 1.3300/10. On further gains try shorts at 1.3340/50 with stops above 1.3390.

Holding below 1.3270 shows bears still in full control and a retest of 1.3210/00 likely. We could continue lower to 1.3175/70 and 1.3130/20.

GBP/JPY held very important support at 143.30/10 on the retest and offers 90 pips profit as we top exactly at first resistance at 144.10/20 this time, but strong resistance at 144.70/80. We should pause here but a break above 145.00 targets a selling opportunity at 145.70/80, with stops above 146.10.

VERY IMPORTANT SUPPORT AT 143.30/10 is key to direction now. Longs need stops below 142.60. A break lower risks a slide to 142.00/141.90.

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