The GBP/JPY hourly chart shows lower highs and lower lows pattern, meaning the JPY bulls (or GBP/JPY bears) are gaining strength. The key moving averages (50,100 and 200) are trending south, indicating the path of least resistance is to the downside. The 50-hour MA is all set to cross the 200-hour MA in a GBP bearish manner. And last but not the least, the RSI has rolled over in favor of the bears. Hence, the cross could soon explore levels below 147.20 (38.2% Fib R of June 28 low – July 16 high). Hourly chart Spot Rate: 147.35 Daily High: 147.59 Daily Low: 147.27 Trend: Bearish Resistance R1: 147.75 (10-day moving average) R2: 148.21 (100-day moving average) R3: 149.31 (July 16 high) Support S1: 147.20 (38.2% Fib R of June 28 low – July 16 high) S2: 146.83 (50-day moving average) S3: 146.54 (50% Fib R of June 28 low – July 16 high) FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China SAFE: Expectations on Yuan rate are basically stable in 1H FX Street 5 years The GBP/JPY hourly chart shows lower highs and lower lows pattern, meaning the JPY bulls (or GBP/JPY bears) are gaining strength. The key moving averages (50,100 and 200) are trending south, indicating the path of least resistance is to the downside. The 50-hour MA is all set to cross the 200-hour MA in a GBP bearish manner. And last but not the least, the RSI has rolled over in favor of the bears. Hence, the cross could soon explore levels below 147.20 (38.2% Fib R of June 28 low - July 16 high). Hourly chart Spot Rate: 147.35 Daily High:… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
