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Greetings once again, Everyone!
As we move into The European Session, we see Solid Resistance Areas on GBP/USD and GBP/JPY violated as Price Clips their IntraDay Ranges.
Give the Captures a Click for Levels of Reference, and Post-Time is 7:00 GMT.
The Pound on the Hourly View looks primed to see the 1.6200 Handle Resistance as Price pulls out of our Ellipsed Area from yesterday through The Asian Session.
The 1.6250’s Area sees the Weekly June Downleg 50% Fib variant, which should Contain Price in terms of the Potential Hourly Bear Flag Formation.
The Pound Yen also sees similar Appreciation on an IntraDay Basis, as Price looks to clear 158.50’s Resistance out of the Flag/Pennant Formation from the 157.30’s Dynamic Support “Transitive Rollover”.
A Re-Test and breach of the 157.30’s Area may see Bearish Builds as Price falls back into the 155.80’s-157.30’s Range, as Price is still Anchored on the macro-Level by the larger Range of 155.00 and 160.55.
Immediate-Term Details of The Majors can be found with the just-published “Currency Majors Technical Perspective” Report, and as always, please join me soon for more Updates as our Day progresses !
