“¢ The cross extended its sideways consolidative price action and remained confined within last week’s post-BoE trading range, around the 142.00 handle.
“¢ Any intraday downtick continues to find some support near the 141.85 horizontal zone, with bulls now looking to build on the momentum beyond 100-hour SMA.
“¢ Meanwhile, neutral technical indicators on hourly/daily charts have failed to provide any directional impetus and thus, warrant caution before placing aggressive bets.
“¢ Today’s UK macro data, including the prelim GDP growth figures for the fourth quarter of 2018, might help determine a firm intraday/near-term direction.
“¢ Hence, any subsequent up-move seems more likely to meet with some fresh supply/remain capped near the top end of a short-term descending trend-channel formation.
GBP/JPY 1-hourly chart
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GBP/JPY
Overview:
Today Last Price: 142.21
Today Daily change %: 0.13%
Today Daily Open: 142.03
Trends:
Daily SMA20: 142.26
Daily SMA50: 141.45
Daily SMA100: 144.05
Daily SMA200: 144.9
Levels:
Previous Daily High: 142.52
Previous Daily Low: 141.85
Previous Weekly High: 144.18
Previous Weekly Low: 141.12
Previous Monthly High: 144.85
Previous Monthly Low: 131.79
Daily Fibonacci 38.2%: 142.11
Daily Fibonacci 61.8%: 142.27
Daily Pivot Point S1: 141.74
Daily Pivot Point S2: 141.46
Daily Pivot Point S3: 141.07
Daily Pivot Point R1: 142.42
Daily Pivot Point R2: 142.81
Daily Pivot Point R3: 143.1
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