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The consolidation pattern from 151.64 is still in progress and could extend. Another rebound might be seen but upside should be limited below 162.80 resistance. Below 153.64 will target 151.64. Break of 151.64 will extend the larger down trend to next long term fibonacci level at 147.01. In the bigger picture, fall from 195.86 medium term is viewed as a corrective move. There is no confirmation of completion yet and GBP/JPY might still target 61.8% retracement of 116.83 to 195.86 at 147.01. We'…
The consolidation pattern from 151.64 is still in progress and could extend. Another rebound might be seen but upside should be limited below 162.80 resistance. Below 153.64 will target 151.64. Break of 151.64 will extend the larger down trend to next long term fibonacci level at 147.01. In the bigger picture, fall from 195.86 medium term is viewed as a corrective move. There is no confirmation of completion yet and GBP/JPY might still target 61.8% retracement of 116.83 to 195.86 at 147.01. We'…