21st Feb - GBP/JPY Enjoys Temporary Pullback
21 February 2013
WEEKLY CHART:
Recovery here recently exceeded the 61.8% retracement. The higher 152.11 76.4% mark could be tested in due course.
DAILY CHART:
Latest strength saw a test of our most recent Fibo projection just beneath 148.00, where s/term resistance has emerged. This was accompanied by a negative RSI divergence which implied bull fatigue.
First support comes from the current 23.6% pullback level at 141.07. Of more interest is the lower 136.80 38.2% level which coincides with an old channel top projection. Ideally this latter will hold further weakness.
Next story:
22nd Feb - Gold Nearing Long Term Support Again 
Previous story:
19th February - Cable has broken down