Cross-rate signals: GBP/JPY is pending for correction

Against the backdrop of risk aversion and the general oversold, the cross-rate GBP/JPY retains the potential for correction, which is due to the formation of the bullish divergence of the MACD indicator. Also, this pair is limited to a significant psychology of 145.00, which can serve as a reveral zone to the formation of correction.

The main resistance levels are: 147.00-20 and 148.00-50, from which the resumption of decline is expected. The support zone is located at the mark: 145.00-144.50, the consolidation below which will cancel the scenario for strengthening.

Fig. GBP/JPY. The current price is 145.10.

Hanzenko Anton