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Action Insight: GBPJPY Technical Outlook

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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 10 16 10:26 GMT
GBP/JPY edged higher to 146.02 last week but turned sideway since then. Initial bias stays neutral this week for consolidations. But outlook remains bullish as long as 138.49 support holds. Above 146.20 will target long term fibonacci level at 150.43. As rebound from 122.36 is seen as part of a correction pattern, we'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support would argue that such rebound is completed and turn outlook bearish.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 09 16 04:09 GMT
Intraday bias in GBP/JPY is neutral for consolidation below 146.02 temporary top. But still, with 138.49 support intact, further rally is expected. Current rebound from 122.36 is seen as medium term corrective move and could target long term fibonacci level at 150.43. We'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support would argue that such rebound is completed and turn outlook bearish.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 08 16 10:03 GMT
With 138.49 support intact, further rise is still expected in GBP/JPY. Current rebound from 122.36 is seen as medium term corrective move and could target long term fibonacci level at 150.43. We'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support would argue that such rebound is completed and turn outlook bearish.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 07 16 08:07 GMT
GBP/JPY continues to lose some upside momentum. But with 138.49 minor support intact, further rise is still expected. Current rebound from 122.36 is seen as medium term corrective move and could target long term fibonacci level at 150.43. We'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support would argue that such rebound is completed and turn outlook bearish.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 06 16 05:49 GMT
With 138.49 minor support intact, further rally is expected in GBP/JPY. Current rise should target long term fibonacci level at 150.43. As such rebound is seen as part of a correction pattern, we'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support, however, will indicate short term topping and bring pull back.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 05 16 05:09 GMT
With 138.49 minor support intact, further rally is expected in GBP/JPY. Current rise should target long term fibonacci level at 150.43. As such rebound is seen as part of a correction pattern, we'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support, however, will indicate short term topping and bring pull back.
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GBP/JPY Weekly Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 03 16 11:22 GMT
GBP/JPY's rally from 122.36 extended to as high as 145.17 last week. Near term outlook stays bullish with 138.49 support intact. Current rise should target long term fibonacci level at 150.43. As such rebound is seen as part of a correction pattern, we'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support, however, will indicate short term topping and bring pull back.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 02 16 05:59 GMT
Intraday bias in GBP/JPY remains on the upside for the moment. Current rally from 122.36 should target long term fibonacci level at 150.43. As such rebound is seen as part of a correction pattern, hence, we'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat..
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Dec 01 16 09:27 GMT
GBP/JPY's rally resumed by breaking 141.73 resistance and reaches as high as 143.69 so far. Intraday bias is back on the upside for long term fibonacci level at 150.43. As such rebound is seen as part of a correction pattern, hence, we'd be cautious on topping at 150.43 on first attempt. On the downside, break of 138.49 support is needed to indicate short term topping. Otherwise, outlook will remain bullish in case of retreat.
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GBP/JPY Daily Outlook Print E-mail
GBPJPY Outlook | Written by ActionForex.com | Nov 30 16 11:50 GMT
Intraday bias in GBP/JPY remains neutral for consolidation below 141.73 temporary top. Downside of retreat should be contained by 38.2% retracement of 122.36 to 141.73 at 134.33 and bring another rise. As noted before, rise from 122.36 is seen as developing into medium term consolidation. Above 141.73 will target long term fibonacci level at 150.43. But we'd be cautious on topping at 150.43 on first attempt.
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