GBPJPY Technical Analysis 02.08.2023 1h chart

– Previous Daily candle closed weak Bullish at 183.070 as price has been consolidating across the 3 trading sessions on the lower timeframe.
– Buys on close above 183.180 targeting 4h Resistance formed at 183.500, Leaving Runners to the 4h Strong Resistance formed at 183.830.
– Sells on close below 182.530 targeting 30min Support formed at 182.100, Leaving Runners to the 1h previous Support formed at 181.510.
– As the Tuesday Daily has ranged and 4h consolidating there could be a possible Rejection to the upside as price failing to push above, then potentially for price to retest the previous 4h Resistance formed around 181.850.