GBPJPY Technical Analysis 18th December 2024 1h chart

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 GBPJPY Technical Analysis 18th December 2024 1h chart

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Tuesday Daily candle closed weak Bearish at 194.870 forming weak Daily Resistance at 195.360. I'll be looking for potential Buys above 195.650 targeting 4h Resistance formed on 21st November 2024 around 196.330 Leaving Runners to the previous Daily Support formed on 12th November 2024 around 196.890. I'll be looking for potential Sells below 194.660 targeting 4h Support formed at 194.140 Leaving Runners to the next 4h Support formed at 193.680. All eyes on the UK CPI y/y release at the pre-London session open! With the Pound Sterling stuck in a tight 4H range, this high-impact data could be the catalyst for a breakout. Will inflation figures provide the volume needed to push GBP pairs into new territory? Stay prepared for potential volatility!




 

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