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GBPJPY holds above the support – Analysis – 2-8-2016
No news for the GBPJPY pair, as its affected by some negative pressures that forced it to settle around 134.50 support, while the stability of this support allows us to wait to gather the bullish momentum again, which will open the way to reach our targets that reach to 137.00 then 140.00.
We remind you that the price affection by new negative pressures and the attempt to settle below the current support will open the way to form strong bearish bias by moving below the bearish channel, to target 133.15 followed by 130.25 as main targets of the bearish bias, thus, we should monitor the price behavior in the upcoming trading to avoid any attempt to change the main trend.
Expected trading range for today is between 134.50 and 137.00
Expected trend for today: Bullish
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