GBP/JPY: British Pound heading down to critical support at 148.585 support; potential sell short
|GBP/JPY: British Pound heading down to critical support at 148.585 support; potential sell short
What is going on now with GBP/JPY?
GBP/JPY: The British Pound attempted twice to reach the second target at 149.545 but failed and now has fallen below 149.040. The pair bounced at 148.585 in today's session but failed at 149.040 and has fallen out of the bullish channel. The Pound is looking weak and needs to maintain above 148.585 to head back up. The Pound could trigger a pullback to 147.900 if it fails at 148.585.
Support/ Short-148.585, 147.900,and 147.280
Resistance/ Long - 149.040, 149.545, and 150.000
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Chart 1: The short-term view of the GBP/JPY price action in the 60 minutes price chart highlights the direction of the trend and the support and resistance price points
Chart 2: The short-term view of the GBP/JPY price action in the four hours price chart highlights the direction of the trend and the support and resistance price points
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