Chart the Market (10/08/2026)
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Chart the Market (10/08/2026)

Published: 10 August 2026,06:10

Published: 10 August 2026,06:10

Chart The Market

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TradingView chart of a JPY trading pair with several blue horizontal support and resistance lines, candlestick moves, RSI and MACD indicators below.

GBPJPY,  H4:                                                               

The GBP/JPY pair has staged a strong technical rebound from its lowest level since April, gaining more than 1.7% since last week. The recovery suggests that buying interest has returned following the recent sell-off, allowing the pair to regain a portion of its previous losses.

Despite the bullish rebound, GBP/JPY is approaching a significant resistance zone near 241.60, an area that coincides with the 50% to 61.8% Fibonacci Retracement levels of the previous decline. This confluence of technical resistance is expected to attract selling pressure and could determine the pair’s next major directional move.

Should GBP/JPY gather sufficient momentum and break decisively above this resistance range, it would signal a meaningful improvement in the broader technical outlook. Such a breakout would indicate that buyers have regained control of the market and could pave the way for a continuation of the long-term bullish trend.

Conversely, failure to overcome the 241.60 resistance zone may result in another round of selling pressure. A rejection from this area would suggest that the recent rebound was corrective in nature and could increase the likelihood of the pair revisiting its recent lows.

Resistance Levels: 214.60, 215.85

Support Levels: 211.95, 210.35

Candlestick price chart with blue support/resistance lines, an orange downtrend line, and a current price around 64.05; RSI and MACD indicators shown below to assess momentum.

XAGUSD, H4

Silver has staged a strong technical rebound from its critical support zone, reinforcing the bullish outlook for the precious metal. Following the rebound, silver successfully held above its immediate support level despite experiencing a minor technical retracement in the previous session, indicating that buyers continue to defend the market and maintain control of the near-term trend.

The ability to sustain above key support after a pullback is a positive technical development, suggesting that the recent rally is supported by underlying buying momentum rather than short-term speculative activity. This price behavior reinforces the view that silver remains positioned for further upside.

Momentum indicators continue to support the bullish case. The Relative Strength Index (RSI) remains in an upward trajectory, reflecting strengthening buying pressure, while the MACD continues to advance, indicating that bullish momentum remains firmly intact.

Given the strength of the recent rebound and the supportive momentum signals, silver appears well-positioned to challenge its next major resistance level near $65.35. A decisive break above this resistance zone would further strengthen the bullish outlook and could pave the way for an extension of the current upward trend.

Resistance Levels: 65.35, 69.70

Support Levels: 61.60, 56.70

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