Technical Analysis

GBP/USD Weekly Chart

The pair closed last week below the 89 EMA and the 38.2 Fibonacci level ( yellow circle ), so the rally downside is still expected. Next target is the 50% Fibonacci level at 1.9106. 200 EMA (red line) is at 1.8745.

USD/JPY Daily Chart

The pair reached the first target (FE 61.8) and bounced a little. Resistance now is at 110.12 area and support is at 107.02 (November 2007 low). Second target is the FE 100.0 at 104.05 area. However, strong break above the resistance might bring the pair back to 89 EMA level again (blue channel).

GBP/JPY Weekly Chart

The pair maintain to stay below the 200 EMA from Friday's bearish movement. The trendline below is at 209.50/210.50 also is the second target (FE 100.0). Watchout for a spike below the trendline, or else the pair might be drop further.