Daily Pivots: (S1) 210.95; (P) 211.66; (R1) 212.51; More…
Intraday bias in GBP/JPY remains neutral for the moment. On the upside, firm break of 213.28 will resume the rebound from 207.20 to retest 214.98 high. Nevertheless, on the downside, below 210.78 support will target 209.15 support first. Further break there will bring retest of 207.20 support next.
In the bigger picture, up trend from 123.94 (2020 low) is still in progress. Firm break of 214.98 will target 61.8% projection of 148.93 (2022 low) to 208.09 (2024 high) from 184.35 at 220.90. This will remain the favored case as long as 55 W EMA (now at 203.08) holds, even in case of another deep pullback.
