Daily Pivots: (S1) 185.52; (P) 185.99; (R1) 186.41; More…
Intraday bias in GBP/JPY is turned neutral with current retreat. Firm break of 184.67 minor support will suggests that deeper pull back in underway to 55 D EMA (now at 180.44). Nevertheless, break 186.45 will resume larger up trend to 61.8% projection of 158.24 to 183.99 from 176.29 at 192.20.
In the bigger picture, up trend from 123.94 (2020 low) is in progress. Next target is 195.86 (2015 high). This will now remain the favored case as long as 176.29 support holds, even in case of deeper pull back.
. Nevertheless, break 186.45 will resume larger up trend to 61.8% projection of 158.24 to 183.99 from 176.29 at 192.20.){kind=link}