GBP/JPY Technical Analysis: On the wrong end of a bearish channel break

The past twenty-four hours saw the Sterling looking to make a firmer run above the 144.00 handle, but Monday's US trading session saw the GBP slipping once again, and the Guppy is currently firming up near 144.00 once more.

GBP/JPY, M5

Over the past week, The GBP/JPY has declined from a near-term high close to 146.30, dropping into a fresh low at 142.75 and the pair is now looking to mark in a rebound, but declining highs are blocking the way with immediate resistance waiting at Monday's peak of 144.40.

GBP/JPY, M30

Over the past month, The Guppy has fallen out the wrong end of a descending channel, and buyers are likely to see continued resistance from the lower bound as they try to stage a recovery towards the pair's four-week high at 149.50.

GBP/JPY, H4