After massive corrections on loss last month, GBP/JPY continues to gain strength and is expected to continue, currently bouncing off resistance level 171.78, and the currency is looking to rally again today for another bullish trend to move the price action upwards. Market speculation suggests the sentiment to remain bullish for the remainder of the week. Traders are advised to look for strong CALL options for up to 30 minutes.
Even with its prior gains last month, the GBP is having trouble pulling back upwards against its longtime rival, the USD. Making several attempts in the past week to rally past resistance level 1.6732, the pair is showing strength with today sentiment and is looking to go bullish yet again for another rally. Traders are advised to look for strong CALL options for up to 1 hour.
Another interesting turn to a downwards trend. The EUR/GBP its falling short of its expected gain and pushing resistance level 0.8217. The last few hours have culminated in a vain attempt for investors to further push the price action to a higher rate. The downtrend is expected to occur within the day and should be seen during the US market hours. Traders are advised to look for PUT options ranging from 10 to 30 minutes.