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GBP/USD And GBP/JPY Daily Forecast - 15 August 2018

Published 08/15/2018, 01:45 AM
Updated 07/09/2023, 06:31 AM

GBP/USD & GBP/JPY Weekly

GBP/USD lower again to the next target of 1.2710/00. Below 1.2700 targets 1.2670, 1.2640/30 and perhaps as far as support at 1.2580/70.

Gains are likely to be limited with bears in full control but I am watching for a buy signal in severely oversold conditions.

Minor resistance at 1.2810/20 then a high for the day likely at 1.2865/75 if reached. Shorts need stops above 1.2905.

GBP/JPY key resistance at 142.35/40 today in the bear trend. Shorts need stops above 142.80. A break higher targets strong resistance at 143.60/70.

Failure to beat minor resistance at 141.75/85 targets 141.45, 141.00/95 (held the downside perfectly yesterday) and 140.25/250. Below 140.00 risks a slide to 139.35/25.

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