GBP/JPY & GBP/CAD - Playing GBP Strength Differently

Pound can be caught up in the bouts of USD strength if EUR melts down by breaking important levels on the downside. But that can provide excellent opportunity to get long pound against yen and Canadian Dollar. First good support for GBP/JPY comes in around 192.52 and we would like to get long around that level expecting good bounce.

For GBP/CAD the levels we are looking to play are 2.0120 and 2.0000. GBP/CAD moves are fast and furious, so we will touch 2.0120 depending upon where GBP/USD is trading but near 2.0000 we can dabble easily with good risk reward.