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26 Jun 2013
GBP/JPY pulling back off session lows
FXstreet.com (London) - GBP/JPY has risen back up through the 150.00 handle, after declining consecutively printing lower lows since 150.40.
GBP/JPY has been dropping from an overnight high of 151.42, to printing a low of 149.89 in Europe so far. BoE Governor will be speaking at 930GMT when the Financial Stability report will be delivered simultaneously. The UK spending review comes in later at 11.30GMT while US data will begin to take the stage and USD/JPY will surely be subject to that, affecting the cross and cable. At 12.30GMT, US GDP Q1 annulised arrives and will be in focus.
GBP/JPY resistance closing in
GBP/JPY is overall continuing to rise along an ascending trend line, although of late the pair's channel has been narrowing from topside pressure closing in. This could be indicating that a breakout to the down side out from the range and below the trend line might develop a correction. 149.35 and 148.15 are key support areas while the pair need closes above 151.50 to see that the quote can maintain its bullish ranges to the upside.
GBP/JPY has been dropping from an overnight high of 151.42, to printing a low of 149.89 in Europe so far. BoE Governor will be speaking at 930GMT when the Financial Stability report will be delivered simultaneously. The UK spending review comes in later at 11.30GMT while US data will begin to take the stage and USD/JPY will surely be subject to that, affecting the cross and cable. At 12.30GMT, US GDP Q1 annulised arrives and will be in focus.
GBP/JPY resistance closing in
GBP/JPY is overall continuing to rise along an ascending trend line, although of late the pair's channel has been narrowing from topside pressure closing in. This could be indicating that a breakout to the down side out from the range and below the trend line might develop a correction. 149.35 and 148.15 are key support areas while the pair need closes above 151.50 to see that the quote can maintain its bullish ranges to the upside.