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5 Sep 2018

GBP/JPY Technical Analysis: Rallies hard to 145.00 neighborhood on positive Brexit headlines

   •  The British Pound rallied hard across the board on news reports that the UK and Germany have decided to abandon some key Brexit demands.

   •  The cross caught some aggressive bids and surged around 230-pips, easily surpassing 100/200-hour SMA confluence hurdle near mid-143.00s.

   •  The bullish momentum now seems to have paused near the key 145.00 psychological mark, which if cleared should pave the way for additional intraday gains.

   •  RSI (14) on the 1-hourly chart has jumped above 70, indicating overbought conditions, and could be the only factor limiting further positive momentum.

GBP/JPY 1-houly chart

Spot Rate: 144.90
Daily Low: 142.66
Trend: Bullish

Resistance
R1: 145.50 (Aug. 29 daily closing high)
R2: 146.00 (round figure mark)
R3: 146.36 (100-day SMA)

Support
S1: 144.30 (horizontal zone)
S2: 144.00 (round figure mark)
S3: 143.72 (previous weekly high set on Monday)
 

Sep 5, 2018

EUR/GBP tumbles to lows near 0.8960

The now better tone around the British Pound is now forcing EUR/GBP to test lows in the 0.8960 area. EUR/GBP weaker on Brexit news GBP regained buyi
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Sep 5, 2018

GBP/USD Technical Analysis: Cable Tsunami - GBP/USD jumps 150 pips as Germany and UK are said to drop key Brexit demands - Beginning of the end of the bull trend

GBP/USD 4-hour chart Spot rate:               1.2968 Relative change:     0.86%      High:                      1.2984 Low:                    
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