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GBPJPY Bullish on Consolidation: Holds Above 216 After 218 Top – Buy Dips at 217 Targeting 220 
- RES 4: 1.5380 (Jun 3rd high)
- RES 3: 1. 5350 (20 day HMA)
- RES 2: 1.5306 (200 day HMA)
- RES 1: 1.5263 (20 day HMA)
PRICE: 1.52506@ 11:34 GMT
- SUP 1: 1.5169 (Jun 1st low)
- SUP 2: 1.5080 (May 5th low)
- SUP3 :1.5040 (61.8% retracement of 1.5648 and 1.5813)
- SUP 4: 1.5000
GBP/USD is struggling to break above 1.5310 (Trend line resistance) and this confirms intraday weakness, a decline till 1.5180 cannot be ruled out .
On the upside minor resistance is around 1.5310 and any break above would extend gains till 1.5360/1.5430.
The pair's minor support is around 1.5248 and break below will drag the pair further down till 1.5180
It is good to sell on rallies around 1.5280 with SL around 1.5315 for the TP of 1.5190.
