GBP/JPY Price Forecast – British Pound Quiet In The Week

GBP/JPY Price Forecast – British Pound Quiet In The Week

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The British pound has pulled back just a touch during the trading session on Friday as we continue to see a little bit of noise after big moves. We broke out on Thursday to slice through the ¥155 level, so it might not be out of the question to pull back to that area in order to retest the area for support, or perhaps simply grind sideways to consolidate some of the momentum. I believe that given enough time we should continue to go higher though, as this was a major breakout. If the British pound can finally break above the 1.42 level against the US dollar, that will only turbocharge this move going forward.

GBP/JPY Video 31.05.21

Looking at this chart, we have been in an uptrend for some time so it should not be a huge surprise to think that we had to work off some of this, but as far as selling is concerned, I have no interest in doing so as