GBPJPY facing bullish pressure, potential for further upside

GBPJPY facing bullish pressure, potential for further upside for FX:GBPJPY by FXCM

GBPJPY facing bullish pressure, potential for further upside



Prices are currently holding above the ascending trendline support. Prices might pullback to the 1st support which coincides with 78.6% Fibonacci extension and 50% retracement . Prices might push up towards the 1st resistance level which coincides with 161.8% Fibonacci retracement and 61.8% Fibonacci confluence area. If prices fall through ascending trend line support, prices might reach 2nd support level which coincides with 78.6% Fibonacci retracement . Prices is also holding nicely above Ichimoku cloud which shows a bullish pressure for prices.

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