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GBPJPY Outlook |
Written by ActionForex.com |
May 09 08 08:15 GMT |
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GBP/JPY's fall from 208.99 continues today and dives further to as low as 201.29 in early European session. At this point, intraday bias remains on the downside as long as 203.48 minor support holds. Focus is now on 198.07 support. Break of which will confirm that whole rebound from 192.60 has completed. More importantly, the corrective structure of such rebound will indicate that it's merely a correction to fall from 241.35 only. In other words, more downside should then be seen to retest 192.60 low first. However, strong rebound above 192.60 will argue that such correction from 192.60 is not completed yet and will probably extend further with risk of another rise to above 208.99 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 08 08 08:36 GMT |
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GBP/JPY dives to below 203.35 today as consolidation from 208.99 continues. At this point, intraday bias remains on the downside as long as 204.78 minor resistance holds and further decline could till be seen. But still, focus remains on 198.07 support and as long as this support holds, price actions from 208.99 is still treated as consolidation to rise from 192.60 only. On the upside, above 204.78 will indicate an intraday low is in place and turn outlook neutral first. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 07 08 08:21 GMT |
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GBP/JPY's intraday outlook remains neutral as the cross is still bounded in established sideway consolidation below 208.99. On the upside, break of 208.99 will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). Otherwise, further consolidation could still be seen with risk of another fall to below 203.35 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 06 08 10:02 GMT |
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GBP/JPY continues to be bounded in established sideway consolidation below 208.99. Outlook remains neutral for the moment. On the upside, break of 208.99 will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). Otherwise, further consolidation could still be seen with risk of another fall to below 203.35 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 05 08 15:30 GMT |
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GBP/JPY retreats again after upside is limited by 200.99 resistance. Consolidation from there is probably still in progress and outlook remain unchanged. On the upside, break of 208.99 will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). Otherwise, further consolidation could still be seen with risk of another fall to below 203.35 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 03 08 19:19 GMT |
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GBP/JPY basically stayed inside established tight range of 203.35 and 208.99 last week. Outlook remains unchanged. On the upside, break of 208.99 will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). Otherwise, further consolidation could still be seen with risk of another fall to below 203.35 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 02 08 09:25 GMT |
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GBP/JPY strengthens mildly today but after all is till bounded inside established range of 203.35 and 208.99. Choppy consolidation is probably still underway. On the upside, break of 208.99 will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). Otherwise, further consolidation could still be seen with risk of another fall to below 203.35 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
May 01 08 13:29 GMT |
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While some volatility is seen in GBP/JPY, choppy consolidation from 208.99 is still underway as the cross is still bounded inside established range of 203.35 and 208.99. On the upside, break of 208.99 will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). Otherwise, further consolidation could still be seen with risk of another fall to below 203.35 before completion. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 30 08 08:38 GMT |
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GBP/JPY's consolidation from 208.99 continues today as expected and is pressing 203.35 support again. At this point, further decline cannot be ruled out as long as 205.63 minor resistance holds. But above 205.63 will be the first signal that consolidation from 208.99 has completed. Focus will then be back to this resistance and break will confirm that rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 29 08 08:28 GMT |
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GBP/JPY's rise from 203.35 was limited below 208.99 resistance and retreats mildly since then. An intraday top could be in place with 4 hours MACD dragged below signal line. Break of 206.29 will confirm this case. Also, it will suggest that consolidation from 208.99 is still in progress and will have another fall to 203.35 support or below before completion. On the upside, above 208.99 will indicate rise from 198.07 has resumed for 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 28 08 14:10 GMT |
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GBP/JPY edges further higher to 208.60 today and at this point, intraday bias remains on the upside as long as 206.29 minor support holds. Break of 208.99 resistance will confirm whole rebound from 192.60 has resumed. As discussed before, sustained trading above the short term falling channel resistance confirms that decline from 241.35 has already completed at 192.60. Further rally is expected to 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). On the downside, though, below 206.29 minor support will argue that there should be one more fall to below 203.35 before completing the consolidation from 208.99 and rally resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 27 08 06:20 GMT |
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GBP/JPY's retreat from 208.99 was contained at 203.35 last week and rebounded strongly since that. Break of 206.09 minor resistance indicates that such retreat should have completed. Intraday bias is flipped back to the upside for 208.99 resistance first and bring will confirm whole rebound from 192.60 has resumed. As discussed before, sustained trading above the short term falling channel resistance confirms that decline from 241.35 has already completed at 192.60. Further rally is expected to 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). On the downside, though, below 205.29 minor support will argue that there should be one more fall to below 203.35 before completing the consolidation from 208.999 and rally resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 25 08 07:10 GMT |
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GBP/JPY's outlook remains unchanged as the pair continues to stay in tight range of 203.35 and 206.09. As discussed before, with 4 hours MACD staying below signal line, it argues that correction 208.99 might still be in progress. Intraday outlook is neutral for the moment. On upside, above 206.09 will reinforce the case that correction from 208.99 has completed and will bring retest of this resistance first. On the downside, though, below 203.35 will indicate deeper correction is underway and and will put 198.07 support back into focus. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 24 08 08:48 GMT |
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GBP/JPY continues to stay in tight range of 203.35 and 206.09 today. As discussed before, with 4 hours MACD staying below signal line, it argues that correction 208.99 might still be in progress. Intraday outlook is neutral for the moment. On upside, above 206.09 will reinforce the case that correction from 208.99 has completed and will bring retest of this resistance first. On the downside, though, below 203.35 will indicate deeper correction is underway and and will put 198.07 support back into focus. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 23 08 14:09 GMT |
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GBP/JPY's recovery from 203.35 was limited at 206.09 and retreats from there. With 4 hours MACD staying below signal line, it argues that correction 208.99 might still be in progress. Intraday outlook is neutral for the moment. On upside, above 206.09 will reinforce the case that correction from 208.99 has completed and will bring retest of this resistance first. On the downside, though, below 203.35 will indicate deeper correction is underway and and will put 198.07 support back into focus. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 22 08 13:39 GMT |
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GBP/JPY's pull back from 208.99 was contained at 203.35, supported by 203.54 as expected and rebounds strongly. Break of 205.64 minor resistance indicates that an intraday bottom is in place. Bias is shifted back to the upside for retest of 208.99 resistance. As discussed before, success break of short term falling channel resistance and 205.09 resistance confirms that decline from 241.35 has already completed at 192.60. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 19 08 13:36 GMT |
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GBP/JPY 's rise from 192.60 resumed last week by surging to as high as 208.99 to close the week strongly. Success break of short term falling channel resistance and 205.09 resistance confirms that decline from 241.35 has already completed at 192.60. From a short term angle, initial bias remains on the upside this week as long as 205.98 minor support holds. Further rally is expected to 210.56/211.22 resistance zone (100% projection of 192.60 to 205.09 from 198.07 at 210.56 and 38.2% retracement of 241.35 to 192.60 at 211.22). On the downside, while below 205.98 will turn intraday outlook neutral first. Though, downside should be contained by 203.54 support and bring rally resumption. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 17 08 09:04 GMT |
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GBP/JPY's consolidation continues today and strengthens mildly. Nevertheless, upside is still limited by short term falling channel as well ass 201.87 minor resistance, outlook remains unchanged. Fall from 205.09 should still be in force. Break of 198.07 will indicate that fall from 205.09 has resumed. Further break of 196.83 will confirm that rise from 192.60 has completed at 205.09 after meeting short term channel resistance. The corrective nature reaffirm the case the whole decline from 241.35 is still in force. In such case, retest of 192.60 low should be seen first. |
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GBPJPY Outlook |
Written by ActionForex.com |
Apr 16 08 08:02 GMT |
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GBP/JPY continues to engage in choppy sideway trading above 198.07 today. Outlook remains unchanged. With GBP/JPY staying below 4 hours 55 EMA (now at 200.49), fall from 205.09 should still be in force. Break of 198.07 will indicate that fall from 205.09 has resumed. Further break of 196.83 will confirm that rise from 192.60 has completed at 205.09 after meeting short term channel resistance. The corrective nature reaffirm the case the whole decline from 241.35 is still in force. In such case, retest of 192.60 low should be seen first. |
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