(138,40) The GBP/JPY failed to confirm any correction extending instead the move up already above 138. Nevertheless we expect the upside to be limited because of a limited upside potential of the CABLE and because of the overbought conditions in DOLL/YEN. The indicators of the daily chart are still well positive but also still well overbought; they start now forming bearish divergences. The indicators of the weekly chart are also positive but overbought and showing potential negative reversals. Those of the s/t charts are also positive but still showing overbought conditions. The s/t target is 138,64 but we could well see a 139 overshooting before turning lower. We sell another small pice in case of a 139 overshooting for a return toward the 200 hours line, now found at 136,69!
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Future Trend Research