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28 Jul 2015
GBP/JPY hovers around 192.00 ahead of UK data
FXStreet (Mumbai) - The GBP/JPY hovers around 192.00 handle ahead of the Q2 UK GDP data, after having been rejected at the high of 192.52 earlier today.
Fails to sustain above hourly 100-MA
The spot was offered after it failed to sustain above the hourly 100-MA located at 192.43. The GBP has been ditched ahead of the data, even though economists expect a marked improvement in the pace of economic growth. Quarter-on-quarter, the GDP is seen rising 0.7%, compared to a 0.4% rise seen in Q1.
The British Pound showed signs of strength in the early European session. Consequently, the GBP/JPY bounced-off from the 50-DMA located at 191.63.
GBP/JPY Technical Levels
The immediate resistance is located at 192.43 (hourly 100-MA), followed by another resistance at 192.93 (hourly 200-MA). On the other hand, support is seen at 191.63 (50-DMA) and 191.00 (previous session’s low).
Fails to sustain above hourly 100-MA
The spot was offered after it failed to sustain above the hourly 100-MA located at 192.43. The GBP has been ditched ahead of the data, even though economists expect a marked improvement in the pace of economic growth. Quarter-on-quarter, the GDP is seen rising 0.7%, compared to a 0.4% rise seen in Q1.
The British Pound showed signs of strength in the early European session. Consequently, the GBP/JPY bounced-off from the 50-DMA located at 191.63.
GBP/JPY Technical Levels
The immediate resistance is located at 192.43 (hourly 100-MA), followed by another resistance at 192.93 (hourly 200-MA). On the other hand, support is seen at 191.63 (50-DMA) and 191.00 (previous session’s low).