“¢ The cross finally broke out of its Asian session consolidation phase and a move beyond 50-hour SMA was seen as a key trigger for the latest leg of a sudden pickup in the last hour.
“¢ The cross spiked back closer to the top end of Friday’s broader trading range, nearing a resistance marked by 23.6% Fibonacci retracement level of 148.73-144.25 last week’s sharp fall.
“¢ Technical indicators on the 1-hourly chart have already recovered from the bearish territory and support prospects for an extension of the pair’s intraday positive momentum beyond the 145.00 handle.
“¢ However, a convincing break below the 144.60-50 horizontal zone might negate the constructive outlook and turn the cross vulnerable to resume with its bearish slide amid UK political uncertainty.
GBP/JPY 1-hourly chart
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GBP/JPY
Overview:
Last Price: 145.18
Daily change: 47 pips
Daily change: 0.325%
Daily Open: 144.71
Trends:
Daily SMA20: 146.13
Daily SMA50: 147.01
Daily SMA100: 145.85
Daily SMA200: 147.21
Levels:
Daily High: 145.46
Daily Low: 144.6
Weekly High: 148.74
Weekly Low: 144.26
Monthly High: 149.52
Monthly Low: 142.78
Daily Fibonacci 38.2%: 144.93
Daily Fibonacci 61.8%: 145.13
Daily Pivot Point S1: 144.39
Daily Pivot Point S2: 144.07
Daily Pivot Point S3: 143.53
Daily Pivot Point R1: 145.24
Daily Pivot Point R2: 145.78
Daily Pivot Point R3: 146.1
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