GBP/JPY awaits to perform a rebound

GBP/JPY awaits to perform a rebound

The GBP/JPY pair has been staying in a bearish tone since January 8th. Currently, it’s testing the Fibonacci level of 78.6% at 152.15, where we could expect a rebound in order to follow the overall bullish bias towards the resistance level of 154.11, at which lies the -23.6% Fibonacci target. To the downside, a break below 151.76 should expose the December 22th lows around 151.00.

RSI indicator stays in the oversold territory.




Morning brief for May 30

 Growing concerns over Greek bailout, early elections in Italy and comments by the ECB President Mario Draghi about the need to maintain the bank’s extraordinary amount of monetary policy support…

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