The GBPJPY tests the breakdown point and also the 50% retracement.

The Guppy (GBPJPY) is testing the breakdown point today at the 140.00 level and thus far rejecting it. The risk is increasing that a break higher here could continue the squeeze towards the 142.24, however a failure here could be very bearish for the pair. Keep in mind the important vote in Parliament is tomorrow regarding the Brexit/EU agreement.

GBPJPY Re-testing breakout

Blake Morrow