GBPJPY
With the lackluster news from yesterday, bears took control of the pair. Currently we are looking at a daily resistance and a current DP level that the pair is trading. We'll watch out for the news today for further trend range. Depending on the news result today, we could be seeing the pair target the 2nd DPs for either long or short.
For Bulls:
Break of the current DP (184.10/184.30) and we would look at an initial target of 184.60/184.75 and if the result of the news today favors the bulls we would see it retest an target 185.10/185.30 DP.
For Bears:
A break of the 184.10/184.30 area would give us a target of the next DP (183.50/183.70). If the news favors the bears we could look at the pair targeting 182.40/182.60 DP next.
NEWS:
Dec 3
GBP Services PMI
Current Areas To Consider (Decision Points [DP]):
186.60/186.80
186.20/186.30
185.60/185.80
185.10/185.30
184.60/184.75
184.10/184.30
183.50/183.70
182.40/182.60
181.50/181.70
Daily Pivot
| 184.63 |
Daily Support and Resistance
R1 185.31
R2 186.30
R3 186.98
R4 187.97
S1 183.64
S2 182.96
S3 181.97
S4 181.29
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