GBP/JPY Forecast July 19, 2016, Technical Analysis

The GBP/JPY pair went higher during the day on Monday, as we continue to see a bit of bullish pressure. However, think it’s only a matter of time before the fact that the British pound is so soft overall that it should continue to enter this market and push lower. With this, we could get a significant rally, but that should be short-term at best. Right now though, I have to admit that this market looks a bit stuck, and it makes a lot of sense that we will continue to bounce around.

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