GBP/JPY Price Analysis: Slumps below Ichimoku Cloud and wraps the week negatively

GBP/JPY remains neutral to downward bias but retains potential upside risks.
A break below key support levels at 178.03 and 176.30 to pave the way for a deeper fall toward the March 23 low of 158.25.
On the upside, the pair needs to stay above the 180.00 level to maintain the potential for an upward move.

Christian Borjon Valencia FXStreet

On Friday, the GBP/JPY remains offered late in the North American session and is set to end the week in the red after the pair slumped below the Ichimoku Cloud (Kumo), which exacerbated its fall to new two-month lows of 178.33. At the time of writing, the cross is trading at 180.33.

The pair is neutral to downward biased, but upside risks remain. If bears conquer key support levels at 178.03, the October 3 low, followed by the July 28 cycle low at 176.30, that would cement the downtrend and open the door for a fall toward the March 23 low of 158.25.

On the other hand, if the pair stays above 180, that would open the door to break the first key resistance level seen at the bottom of the Kumo at 182.12. A breach of the latter will expose the confluence of the top of the Kumo, the Kijun-Sen, and the Senkou Span B at 183.49, ahead of the 184.00 mark.

GBP/JPY Price Analysis – Daily Chart

GBP/JPY Technical Levels

GBP/JPY

Overview
Today last price	180.28
Today Daily Change	-0.83
Today Daily Change %	-0.46
Today daily open	181.11

Trends
Daily SMA20	185.21
Daily SMA50	184.28
Daily SMA100	183.81
Daily SMA200	178.09

Levels
Previous Daily High	181.22
Previous Daily Low	178.35
Previous Weekly High	186.62
Previous Weekly Low	178.59
Previous Monthly High	188.67
Previous Monthly Low	182.75
Daily Fibonacci 38.2%	180.13
Daily Fibonacci 61.8%	179.45
Daily Pivot Point S1	179.23
Daily Pivot Point S2	177.35
Daily Pivot Point S3	176.36
Daily Pivot Point R1	182.1
Daily Pivot Point R2	183.1
Daily Pivot Point R3	184.98

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

British Pound eases to 1.3450 area following downwardly revised Manufacturing PMI data

The British Pound is trimming previous gains against the US Dollar on Monday, returning to the mid-range of the 1.3400s down from fresh seven-week highs, above 1.3500 earlier on the day. Weaker-than-expected UK manufacturing data added pressure on the Pound, which rallied at the Asian session opening, amid news of a halt to the hostilities in Iran.

EUR/USD remains under pressure; looks at 1.1500 on firm US ISM

EUR/USD now accelerates its downtrend and trades in the low 1.1500s on the back of the marginal improvement in the US Dollar, all in the wake of solid US ISM Manufacturing data on Wednesday. The Greenback, in the meantime, remains far from a sustainable rebound in the current context of cooling geopolitical tensions.

Gold remains supported near $4,000

Gold adds to Friday’s pullback, although it remains well underpinned by the key $4,000 threshold per troy ounce on Monday. The US Dollar’s inconclusive price action seems enough to cap the yellow metal’s potential upside, although renewed hopes for a US-Iran peace deal and fading expectations of a Fed rate hike could limit the Greenback’s recovery.

Week ahead: US payrolls report and AI earnings to keep investors on edge

After the Fed decision, NFP report awaited for more rate hike clues. Employment also on the agenda in Canada and New Zealand. Chinese trade and Japanese wage data to be watched too. But Iran and AI headlines to remain in driver’s seat for risk sentiment.

The Bitcoin futures yield collapse: Once over 20%, now less than Treasury notes

Once a goldmine for carry traders, Bitcoin futures have flipped, consistently underperforming plain‑vanilla U.S. Treasuries every month since February. Carry trades consistently yielded 20% or more across regulated and unregulated crypto exchanges during the 2021 bull market. The strategy involved shorting Bitcoin futures while simultaneously buying a spot exchange-traded fund (ETF).

9-3: Is the Federal Reserve’s vote tally Warsh's new forward guidance?

The rate did not move. Neither did the statement, and that’s the more interesting fact. Set the July 29 Federal Open Market Committee (FOMC) statement beside the one issued on June 17, and the two documents are identical apart from a single verb and a paragraph at the bottom naming three dissenters.