Daily Pivots: (S1) 186.28; (P) 188.19; (R1) 190.24; More…
Intraday bias in GBP/JPY is turned neutral with a temporary low formed at 186.06. Stronger recovery might be seen but risk will stay on the downside as long as 55 4H EMA (now at 191.45) holds. Below 186.06 will resume recent fall to 100% projection of 198.94 to 187.04 from 195.95 at 184.05.
In the bigger picture, price actions from 208.09 are seen as a correction to rally from 123.94 (2020 low). Strong support should be seen from 38.2% retracement of 123.94 to 208.09 at 175.94 to contain downside. However, sustained break of 152.11 will bring deeper fall even still as a correction.
 holds. Below 186.06 will resume recent fall to 100% projection of 198.94 to 187.04 from 195.95 at 184.05.){kind=link}