FXstreet.com (Barcelona) - The Pound has bounced at 1.6105 during Asian session time and climbed through European session , reaching an intra-day high at 162.20, approaching 1.6260, 9 month high reached on June 12.
At the moment, initial resistance lies at 162.45 (Aug 5 high) and above here, 162.60 (Jun 12 high), then 163.35 (Nov 3 high). Support levels lie at 161.05 intra-day low, and below here, 1.6040 (Aug 5 low) and 160.00 (Aug 4 low).
According to Jamie Saettele, technical analyst at Daily FX, the Pound will eventually break above 1.62.60 high: "The underside of a former support line is now serving as resistance as the GBPJPY approaches the June high of 162.64. A break above the line is expected eventually since the decline from that level is in just 3 waves. Initial support is 159.00 (38.2% of rally from 153.84)."
GBP/JPY (Aug 06 at 09:51 GMT)
H 162.2 L 161.01
| S3 | S2 | S1 | R1 | R2 | R3 |
| 161.05 | 161.45 | 161.86 | 162.02 | 162.42 | 162.83 |
| [?]Trend Index | [?]OB/OS Index |
| Slightly Bullish | Neutral |
| Data updated on Aug 06 at 09:50 (15-minute timeframe) |
[ View GBP/JPY Technical Studies ]
