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28 May 2015
GBP/JPY falls to 189.60
FXStreet (Mumbai) - The British Pound is being sold aggressively after the second estimate of UK GDP was left unrevised contrary to the expectation of an upward revision. The GBP/JPY pair fell below 190.00 to trade at 189.60 levels.
GBP/JPY: Another failure to see a daily close above 190.00?
The pair is flirting with 190.00 levels for quite a few days now, occasionally rising above the same, but failing repeatedly to score a daily close above it. The pair had rallied to a high of 190.57, before falling back to 189.60 levels on a weaker-than expected second estimate of the first quarter UK GDP.
Moreover, the offered tone strengthened further as the GBP/USD breached key technical supports at 1.5530-1.53. On the other hand, USD/JPY pair continues to hover around 124.00 levels. Consequently, the GBP/JPY cross suffered almost a 100-pip fall.
GBP/JPY Technical Levels
The immediate resistance is located at 190.00, above which gains could be extended to 190.57 levels. On the flip side, a break below 189.50 could push the pair down to 189.00 levels.
GBP/JPY: Another failure to see a daily close above 190.00?
The pair is flirting with 190.00 levels for quite a few days now, occasionally rising above the same, but failing repeatedly to score a daily close above it. The pair had rallied to a high of 190.57, before falling back to 189.60 levels on a weaker-than expected second estimate of the first quarter UK GDP.
Moreover, the offered tone strengthened further as the GBP/USD breached key technical supports at 1.5530-1.53. On the other hand, USD/JPY pair continues to hover around 124.00 levels. Consequently, the GBP/JPY cross suffered almost a 100-pip fall.
GBP/JPY Technical Levels
The immediate resistance is located at 190.00, above which gains could be extended to 190.57 levels. On the flip side, a break below 189.50 could push the pair down to 189.00 levels.