Forming a small bottom somewhat below 61.8% fib, GBPJPY displayed a little pullback. Intraday trend is bullish as long as support is 198.65. At present trading around 199.51, the pair hits an intraday high of 199.66.
The pair is trading above 55 and 200 EMA and 365 EMA (long-term) on the 4-hour chart, confirming a bullish trend. Any violation below 199.40 indicates the intraday trend is weak. A dip to 198.75 /198/197.85/197.25/ 196.70/196.20/195 is possible. Immediate resistance is at 200.35; a breach above this level targets of 202/203.
Market Indicators ( 4-hour chart)
CCI (50)- Bullish
Directional movement index - Neutral
Trading Strategy: Buy
It is good to buy on dips around 199.28-30 with SL around 198.60 for a TP of 202.


FxWirePro- Major Pair levels and bias summary
NZDJPY Bullish Surge: Strong Kiwi Ignites Fresh Upside as 94 Support Holds and All EMAs Align
FxWirePro: USD/JPY uptrend loses steam, remains on bullish path
FxWirePro: GBP/NZD downtrend loses steam, remains on bearish path
FxWirePro: GBP/USD under pressure despite UK's modest economic growth
FxWirePro- Major Pair levels and bias summary
JPY Action Bias: Extremely Bullish Surge Ignites Across NZD, GBP & AUD
FxWirePro- Woodies pivot (Major)
FxWirePro: AUD/USD edges lower, but bullish outlook persists
FxWirePro: USD/ZAR advances as South African rand weakens amid renewed Middle East tensions
Gold Loses Steam After Strong U.S. Retail Sales
Major Pair Action Bias: Extremely Bullish Surge Powers GBPUSD & NZDUSD as Bullish Momentum Ignites
AUDJPY Bullish Surge: Strong Australian Dollar Fuels Fresh Upside as Pair Holds Above 113.50 and All EMAs Align
FxWirePro: GBP/NZD gains some upside momentum but still bearish
FxWirePro:EUR/NZD dips below lower range, bearish bias increases 



