FxWirePro: EUR/GBP Shooting star pulls back major trend in range, maintain directional hedges as bears on verge of dragging 4-months lows
FxWirePro: GBP/JPY trades higher as UK May wins no-confidence vote, good to buy above 143.50
GBPJPY shown a good recovery of more than 100 pips yesterday as UK PM May won no-confidence vote. The pair hits high of 143.44 and is currently trading around 143.22.
UK PM May won the Troy party with margin of 83 (200-118) and GBP was trading higher against all majors especially with USD jumped nearly 200 pips from low.
On the higher side, near by resistance is around 143.50 (trend line resistance) and any break above targets 143.95/144.55/145.The pair should break above 146 for further bullishness.
The near term support is around 143 and any violation below targets 142.50/142.The major support is around 141.17 low made on Dec 10th 2018.
It is good to buy above 143.50 with SL around 143 for the TP of 145.20