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GBP/USD And GBP/JPY Daily Forecast - 27 August 2018

Published 08/27/2018, 12:44 AM
Updated 07/09/2023, 06:31 AM
GBP/USD
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GBP/JPY
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GBPUSD & GBPJPY

GBPUSD bottomed exactly at the lower target of 1.2800/90 & topped exactly at quite strong resistance at 1.2880 on the bounce. Sell again on any move towards 1.2925/35 with stops above 1.2950. A break higher targets 1.2980 & 1.3010.

Holding below 1.2880 targets first support at 1.2830/25 before 1.2800/90. Outlook negative & a break below 1.2790 targets 1.2765 then 1.2730/20.

GBPJPY overbought short term but if we continue higher look for 143.40/50. Exit any longs here & try shorts at 143.80/90, with stops above 144.50.

Minor support at 142.75 then better support at 142.45/40. Below 142.30 however targets 141.99/90.

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