Published: 2025-08-06T07:12:51.000Z
Chart GBP/JPY Update: Range-bound in consolidating from 195.35/00 support
Technical Analyst
-
Range-bound in consolidation from the 195.35/00 support
| Levels | Imp | Comment | Levels | Imp | Comment | |||
|---|---|---|---|---|---|---|---|---|
| R4 | 199.50 | ** | 31 Jul high | S1 | 195.35/00 | * | 2 Jul low, congestion | |
| R3 | 198.00 | * | congestion | S2 | 194.00 | * | congestion, 38.2% | |
| R2 | 197.40 | * | 22 Jul low | S3 | 192.70 | * | Jun low | |
| R1 | 196.40/80 | * | May, 17 Jun highs | S4 | 192.15/00 | * | 50% Apr/Jul rally, congestion |
Asterisk denotes strength of level
07:10 GMT - Range-bound in consolidation from the 195.35/00 support as prices unwind oversold intraday studies following sharp drop from the 199.50 high of last week. However, pressure remains on the downside and see risk for break to extend the broader losses from the 200.00, July current year high. Lower will see deeper pullback to retrace the April/July rally and see room for extension to the 194.00 congestion and 38.2% Fibonacci level. Meanwhile, resistance at the 196.40/196.80 area is expected to cap and sustain losses from the 199.50 high.