The price behavior of yesterday's trading couldn't help us to make sure that the fifth wave of our suggested IM impulsive structure has been already placed. The GBP/JPY pair also has formed a continuation pattern-cup with handle-. This contradiction makes us recommend watching outthe price action carefullyaround 144.90-145.50 zones to get a confirmed sign for the upcoming move.
The trading range for today is among key support at 141.50 and key resistance at 147.60.
The general trend over short term basis is to the downside, targeting 126.80 as far as areas of 146.20 areas remain intact.
Support143.60142.75142.05141.50141.00Resistance144.80145.50146.20146.80147.60RecommendationBased on the charts and explanations above our opinion is, waiting until a clear sign to appear in order to pinpoint the coming big move.