- GBP/JPY bulls eye the 175.00 level.
- 173.00 is key support and watch for hourly correction.
He GBP/JPY it is heading towards the 175 area having rallied strongly in a continuation of the 2023 uptrend. The prospects for the price to reach 175.00 in due course will be illustrated below.
GBPJPY weekly charts
175.00 was a key resistance in 2016.
GBP/JPY daily chart
The start of the week has seen the bulls in control with little sign of slowing down thus far.
GBP/JPY 4-hour chart
The trend line support remains intact, so far.
GBP/JPY 1 hour chart
The hourly chart shows that the price is moving back from the trend, but if the bulls commit above 173.00, there will be prospects for a continuation of the uptrend.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
