GBP/JPY Technical Analysis: Descending trendline remains in effect from 147.50

The past twenty-four hours have seen the GBP/JPY make a bearish break of the pair's rising trendline from last week, and the Guppy is now setting up the groundwork for fresh support just above the 146.00 handle as the Pound gets punished in broader markets at the hands of continued Brexit headlines, where disheartened bullish hopefuls continue to get left out in the cold.

GBP/JPY, M5

The past week sees the Guppy's declining trendline further cementing itself after Monday's rejection from the 147.50 region, and the GBP/JPY could be set for a continued decline as the pair flashes further bearish signals.

GBP/JPY, M30

The past month has the GBP/JPY remaining in a bearish downside wave pattern, and the pair's most recent leg could see the overall short trend begin to run out of steam from near 146.00.

GBP/JPY, H4