This is a follow up on my tradeplan and last feedback on this trade in July. The pair eventually broke the 144.00 level I was waiting for. Things not looking good for GBP overall and this pair is no different. The pair struggled again last week reaching towards the 141.00 handle before bouncing a bit. However, we are approaching another support around 140.00 and based on previous attempts in the past, it may find some buyers, but if we break down below here we could drop to the 137.00 handle rather quickly. Be patient and vigilant if you trade this pair as it’s very sensitive to geopolitical events and we can’t ignore any news related to Brexit either.

GBPJPY - DAILY 12 AUG

Source: MARYNA MURRAY (QUEEN OF POUND)

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