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  • Sterling bulls are managing to etch in small gains for the Guppy, attempting to find a foothold off of a higher low for Monday.
  • The GBP is steeply off against the Yen but traders hoping for a bullish correction are remaining hesitant, keeping a bounce half-hearted.
  • A 13-month low for the GBP/JPY could see further downside if market  sentiment doesn’t make a meaningful recovery.

GBP/JPY Chart, 1-Hour

Spot rate:   141.25
Relative change:   Negligible
High:   141.38
Low: 141.07
   
Trend: Bearish
   
Support 1: 141.00 (major technical level)
Support 2: 140.23 (current week low)
Support 3: 139.26 (August 2017 low)
   
Resistance 1: 141.82 (current week high)
Resistance 2: 143.48 (August 9th swing high)
Resistance 3: 144.72 (previous week high)