British Pound | Economy of U.K

The British Pound Sterling is the fourth most popularly traded currency, and the third most commonly held reserve currency.

The Japanese Yen is the third most commonly traded currency in the world after the US Dollar and the Euro. 

The primary trend of GBP/JPY is bullish, prices are sustaining on the higher levels & looking further bullish for the few upcoming sessions. The pair is taking resistance from falling trendline, consolidating & gaining strength to break it upside. Today if the pair breaks 184.20 & managed to sustain above it, then we can expect it to continue its ongoing trend & test the level of 184.87/185.20 in today's session. RSI is sustaining in buying territory supporting upside movement in the pair.

CLICK HERE FOR 3 DAYS FREE  TRIAL

MACD line has recently break the zero line,indicating the up trend in the market.

STRATEGY :- GBP/JPY is looking further bullish on charts. One can go for buy on dips strategy for this pair for intra day to mid term positions.

FOREX Signal For Today: AUD/USD chart

AUD/USD Chart

FOREX Signal Today:
Sharp increase in AUD/USD prices on RBA Rate statements. AUD/USD while forming reverse H&S, has increase 1.6%. Next resistance to look for is 0.8920 which is FIBO 23.6% level as well.

Today's FOREX Chart: EUR/USD Trend Daily

EUR/USD Daily

EUR/USD Trend Today

EUR/USD continues the bullish trend after taking support of the trend line. Continuation pattern “Flag” is observed which indicates EUR/USD to continue the uptrend. Next resistance to look for is 1.3880 with support at 1.3506

FOREX Technical Analysis For GBP USD Today: 9th Jan

Technical Analysis for GBP USD

Still the currency of ownership in a weak trading since yesterday against the U.S. dollar , which is dominated by uncertainty of the outcome of the FOMC today and also the results of the change in private sector jobs , and we expect the pair to decline towards levels of 1.6340 to rise again to about the levels of 1.6469 , a level of 50% retracement of the downside wave from 1.6600 but remains bullish trend is dominating the pair as long as the top line of the main trend in white at the bottom of the screen

The general trend of a medium-term : bullish

Key resistance levels : 1.6437 and 1.6469

Key support levels : 1.6372 and 1.6336