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It’s all about the pound on today’s canvas, as we take a look at swing and long-term trade opportunities on GBP/JPY and EUR/GBP. Check it!

GBP/JPY: 4-hour

GBP/JPY 4-hour Forex Chart
GBP/JPY 4-hour Forex Chart

After breaking above a falling trend line earlier this month, GBP/JPY looks like it’s ready for a new trend.

The pair just bounced from the 147.00 major psychological handle, which lines up with a 38.2% Fib opportunity AND is right under an SMA crossover.

Think the pound is in for more gains against the yen? Buying at current levels is a good play if you believe that Guppy will hit new monthly highs over the next couple of days.

Just make sure to keep your stops wide, aight? Yen crosses like these, traded on higher time frames, can see volatility like nobody’s business!

EUR/GBP: Daily

EUR/GBP Daily Forex Chart
EUR/GBP Daily Forex Chart

Breakout alert! EUR/GBP is knocking on the .8900 handle, which is right smack at a long-term channel resistance on the daily time frame.

Stochastic isn’t any help right now, but the strong green candles are making it easy for the bulls to attack. But will they have momentum?

A break above the .8950 previous highs could lead to a tug-o-pip around the .9000 major area of interest and even set a new trend for EUR/GBP.

If the pair ends up with a lot of wicks, though, then we’ll know that the bears aren’t ready to quit their cause just yet. Watch this one closely, brothas!

Forex Chart Settings:

Slow Stochastic: 14,3,3
100 SMA: Blue line
200 SMA: Red line