Under 1200 is very very bearish. I think right now there will be some relief rally and profit-taking. Selling rallies should still be a workable strategy.

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The problem is that Brexit continues to weigh onto investors and speculators. Even right now, GBP has made the lesser gains against the JPY than NZD and most of the major currencies other than CAD and CHF (CAD due to oil concerns) and CHF, well, ...

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I think we make a move to test 141.23...will be interesting to see how it reacts from there.

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50 pips range for the day? Very weird...

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Looks like this will be interesting, looking forward.

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Very good analysis. Thank you.

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Very bullish closing, won't be surprised if it gaps up on opening. I believe Monday will see it breach 142.

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I think GBP/JPY had a very bullish closing and buying interest in GBP is returning. UK had good data on Friday and been suppressed for a long long time. I believe GU is primed for an upside move, so good luck!

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