- GBP/JPY resumes uptrend holds above 152.00.
- Pricehits cycle high at 153.07 then pulls back modestly, bullish momentum intact.
The GBP/JPY climbed to 153.07, reaching the highest level since 2018. After a correction lower it resumed the upside. The bullish tone remains intact and more gains seem likely. It needs to break the 153.00 zone. The next barrier emerges at 153.70/75.
A decline below 152.40 would alleviate the positive momentum for the pound. The critical support now moves to 152.00: a round number, the 21-SMA in the four-hour chart, and an uptrend line.
A firm break under 152.00 would suggest more losses ahead with an immediate target at 151.45. Below the next support stands at 150.50.
GBP/JPY four hour chart
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