Daily Pivots: (S1) 187.63; (P) 187.94; (R1) 188.57; More…
Intraday bias in GBP/JPY stays on the upside for the moment. Sustained break of 188.63 will confirm larger up trend resumption. Next target is 38.2% projection of 155.33 to 188.63 from 178.32 at 191.04. On the downside, below 1187.01 minor support will turn intraday bias neutral and bring consolidations first. But outlook will stay bullish as long as 184.15 resistance turned support holds, in case of retreat.
In the bigger picture, up trend from 123.94 (2020 low) in in progress. Medium term outlook will stay bullish as long as 178.32 support holds. Next target is 195.86 long term resistance (2015 high).
