Daily Pivots: (S1) 184.82; (P) 185.08; (R1) 185.53; More…
Intraday bias in GBP/JPY remains neutral as it’s still bounded in range below 185.94. In case of another dip, downside should be contained above 182.71 support to bring another rally. Break of 185.94 will resume the rally from 178.02 to retest 186.75 high next.
In the bigger picture, as long as 176.29 support holds, larger up trend from 123.94 (202 low) should still be in progress. Break of 186.75 will target 195.86 (2015 high). Nevertheless, firm break of 176.29 will confirm medium term topping, and bring lengthier and deeper consolidations.
