Analyzing the Intraday Bias and Key Price Levels for GBP/JPY
Tuesday, 9 July 2024, 07:45
GBP/JPY Daily Forecast
Analyzing the Intraday Bias and Key Price Levels
The intraday bias for GBP/JPY has turned to a neutral stance with a loss of momentum observed in the 4-hour MACD indicator.
On the upside, a sustained break above the 100% projection level of 191.34 to 200.72 from 197.18 at 206.56 would set the stage for a potential move towards the 138.2% projection at 210.17.
Conversely, breaching the minor support at 204.97 could shift the bias to the downside, potentially leading to a deeper pullback in the GBP/JPY pair.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.