Fib fans huddle up! GBP/JPY is sporting dojis around the 135.50 minor psychological level, which is right smack between 38.2% and 50% Fibonacci retracements. What’s more, it’s also near the 100 SMA on the daily chart!
Are we looking at future pain for the pound here? Shorting at the first signs of bearish momentum would give you a good R-R ratio especially if Guppy falls back to its 127.00 previous lows.