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GBP/USD And GBP/JPY Daily Forecast: July 19, 2018

Published 07/19/2018, 05:24 AM
Updated 07/09/2023, 06:31 AM

GBP/USD And GBP/JPY Daily Chart

GBP/USD bounce from 1.30000/1.2990 holding what is now important resistance at 1.3080/70 to re-target 1.30000/1.2990 then 1.2940/30 & 1.2900/1.2890.

A break above 1.3100 however signals a false break lower yesterday & triggers a recovery to 1.3145/50 & resistance at 1.3185/95.

GBP/JPY bounced to 147.70/60 & topped exactly here as we head back towards 147.24/20 & perhaps as far as 146.60/50. Outlook remains negative & further losses target 145.90/80.

Again, gains are likely to be limited with first resistance at 147.80/90. If we unexpectedly continue higher look for a selling opportunity at 148.30/40.

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