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Action Insight: GBPJPY Technical Outlook

Action Insight is the most popular section of the site, read by traders around the world. Our team of analysts work around the clock, analyzing the markets from technical and fundamental perspectives in providing the reports in this section to you.



GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 29 15 12:30 GMT
GBP/JPY dropped to as low as 183.14 last week but was supported above 61.8% retracement of 174.86 to 195.86 at 182.88 and recovered. Overall outlook is unchanged. Price actions from 195.86 are viewed as a consolidation pattern and should be supported by mentioned 182.88 fibonacci level. An upside breakout through 195..86 is expected later. However, sustained trading below 182.88 will dampen our view and turn focus back to 174.86 support instead.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 27 15 06:14 GMT
Intraday bias in GBP/JPY remains neutral for more sideway consolidations. So far, price actions from 195.86 are viewed as a consolidation pattern and we'll still expect strong support from 61.8% retracement of 174.86 to 195.86 at 182.88 to contain downside. However, sustained break of 182.88 will open up bearishness in the cross and will bring deeper fall to 174.86 key support level.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 26 15 09:38 GMT
Intraday bias in GBP/JPY remains neutral for more sideway consolidations. So far, price actions from 195.86 are viewed as a consolidation pattern and we'll still expect strong support from 61.8% retracement of 174.86 to 195.86 at 182.88 to contain downside. However, sustained break of 182.88 will open up bearishness in the cross and will bring deeper fall to 174.86 key support level.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 25 15 10:16 GMT
Intraday bias in GBP/JPY is turned neutral as the cross drew support from 61.8% retracement of 174.86 to 195.86 at 182.88 and recovered. More sideway consolidations would now be seen. So far, price actions from 195.86 are viewed as a consolidation pattern and we'll still expect strong support from 182.88 to contain downside. However, sustained break of 182.88 will open up bearishness in the cross and will bring deeper fall to 174.86 key support level.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 24 15 08:31 GMT
GBP/JPY's fall extends to as low as 188.42 so far today and intraday bias remains on the downside. Fall from 195.26 is viewed as the third leg of the consolidation pattern from 195.86. Such decline would target 184.95 support and below. We'll look for strong support around 61.8% retracement of 174.86 to 195.86 at 182.88 to contain downside and bring rebound.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 22 15 11:08 GMT
GBP/JPY's break of 191.96 support last week suggests that rebound from 184.95 is completed at 195.25 already. Fall from there is viewed as the third leg of the consolidation pattern from 195.86. Initial bias is on the downside this week for 184.95 support and below. We'll look for strong support around 61.8% retracement of 174.86 to 195.86 at 182.88 to contain downside and bring rebound.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 20 15 09:15 GMT
No change in GBP/JPY's outlook and intraday bias stays neutral first. Rebound from 184.95 is viewed as the second leg of the consolidation pattern from 195.86. Hence, in case of another rise, we'd expect strong resistance from 195.86 to limit upside and bring reversal. Break of 191.96 support will start the third leg of the consolidation and will target 184.95 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 19 15 12:35 GMT
Intraday bias in GBP/JPY remains neutral for the moment. Rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 isn't completed yet. Break of 190.99 will start the third leg of the consolidation and will target 184.95 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 18 15 09:54 GMT
Intraday bias in GBP/JPY remains neutral for the moment. Rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 isn't completed yet. Break of 190.99 will start the third leg of the consolidation and will target 184.95 support.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Aug 17 15 10:13 GMT
Intraday bias in GBP/JPY remains neutral for the moment. Rebound from 184.95 might extend. But we'd expect strong resistance from 195.86 to limit upside and bring reversal. At this point, we're holding on to the view that consolidation pattern from 195.86 isn't completed yet. Break of 190.99 will start the third leg of the consolidation and will target 184.95 support.
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