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GBP/USD Next Support At 1.3155/45

Published 03/04/2019, 01:21 AM

USD/JPY - EUR/JPY Daily Forecast - March 4, 2019

GBPUSD _ GBPJPY

GBP/USD hit profit taking as expected, but sank further than I anticipated as we hit 1.3170. The next support is at 1.3155/45. A break below 1.3120 risks a slide to 1.3095/85.

First resistance is at 1.3240/50 before minor resistance at 1.3285/90. A break above 1.3300 targets 1.3325 before a retest of the high at 1.3345/49.

GBP/JPY is higher again to 148.56. The most important of the day is now the 500-week moving average at 148.80/90.

We bottomed exactly at minor support at 147.50/40 but below here targets 147.10/00, perhaps as far as 146.80/70.

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