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GBP/USD, GBP/JPY: December 12, 2017

Published 12/12/2017, 07:45 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 retests first support at 1.3355/45 but a break below last week's low at 1.3329 is a short term sell signal targeting 1.3295/90 then strong support at 1.3240/30.

Holding support at 1.3355/45 targets first resistance at 1.3420/30. Above here targets 1.3475/80. We are maintaining the 14 month bull trend & further gains targets 1.3520/25 before the October/November high at 1.3543/48. A break higher this week targets the September high at 1.3650/56.

GBP/JPY breaks first support at 151.90/80 to test the best support for this week at 151.50/40. Longs need stops below 151.10. A break lower targets 150.10/00.

A bounce from 151.50/40 targets minor resistance at 151.90/99 then 152.80/90 but above 153.00 retests the 153.35/41 high. A break higher targets 153.60/65 & 154.10/20.

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