GBP/JPY Technical Analysis: Path of least resistance is to the downside despite bull RSI divergence
|- The immediate bearish outlook on the GBP/JPY remains intact despite the bullish divergence of the relative strength index (RSI) seen in the hourly chart.
- Only an upside break of the falling trendline would open the doors to minor intraday rally.
Hourly chart
Spot Rate: 144.67
Daily High: 144.74
Daily Low: 144.48
Trend: Bearish
R1: 144.51 (previous day's low)
R2: 144.00 (zero figure)
R3: 143.77 (June 28 low)
Support
S1: 145.26 (July 30 low)
S2: 145.74 (10-day moving average)
S3: 146.29 (50-day moving average)
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