EUR/GBP shows potential for bearish shift
EUR/GBP is consolidating within a symmetrical triangle formation, following a rally into the top end of a three-month descending channel.
This points towards the potential for another bearish shift for the pair, where an hourly close below £0.8855 would signal a likely beginning of a more bearish phase.
USD/JPY rallies against downtrend
USD/JPY has pushed higher overnight, with the pair moving against the clear downtrend seen throughout 2018 thus far.
The ability to break through ¥110.98 will be key in determining whether this trend is about to reverse. Until then, there is a strong chance we could start to see the sellers come back into play, with the 76.4% retracement pointing towards a strong risk-to-reward profile associated with shorts.