Daily Pivots: (S1) 208.94; (P) 210.01; (R1) 212.03; More…
Intraday bias in GBP/JPY remains on the upside for 61.8% projection of 184.35 to 205.30 from 199.04 at 211.98. Firm break there will extend current up trend to 100% projection at 219.99 next. On the downside, below 210.00 minor support will turn intraday bias neutral and bring consolidations first, before staging another rally.
In the bigger picture, up trend from 123.94 (2020 low) is in progress. Next target is 61.8% projection of 148.93 to 208.09 from 184.35 at 220.90. On the downside, break of 199.04 support is needed to indicate medium term topping. Otherwise, outlook will stay bullish even in case of deep pullback.
