Source: PaxForex Premium Analytics Portal, Technical Insight
The British pound struggled again on Tuesday as it continues to dodge a break above the 151.50 area.
GBP/JPY,D1
Pivot: 151.27
Analysis:
As long as price is above 149.01 follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 151.27
- Take Profit 1: 151.99
- Take Profit 2: 154.82
Alternative scenario:
If the level of 149.01 is broken-down, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 149.01
- Take profit 1: 146.31
- Take profit 2: 144.70
Comment:
RSI indicates the potential for growth in the medium term.
Key levels:
| Resistance | Support |
| 156.44 | 149.01 |
| 154.82 | 146.31 |
| 151.99 | 144.70 |
