Intraday analysis of GBP/JBP for August 07, 2014

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Though the pair hit the 100DSma and closed below that, in today’s session, the pair opened with support at yesterday’s close and started moving up. For an intraday basis, the pair favors bulls. The pair has resistance at 172.65, above this, it can fly up to 172.90, 173.10 and 173.20. The pair has support at 172.40, below this, 172.25-172.20.

Buy above 172.75 for targets at 173, 173.30, and 173.50.

Performed by Joseph Wind, Analytical expert InstaForex Group © 2007-2014

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Intraday analysis of GBP/JBP for August 07, 2014