GBP/JPY Classical Technical Report 06.15

GBP/JPY: Despite the latest intense pullbacks, we continue to retain a broader bullish outlook for this cross and look for the formation of a major longer-term base in the 117.00 area ahead of significant upside over the coming months. From here, look for gains to extend back above 124.00, with a close above the level to reaffirm bullish prospects.

--- Written by Joel Kruger, Technical Currency Strategist

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