The GBP/JPY retreats late on Wednesday during the North American session and is down 0.27% as the market sentiment shifts sour.
'Bearish engulfing' on GBP/JPY suggests growing bearish momentum. Break below Tenkan-Sen may lead to more declines, with key supports eyed. Resistance at 192.00, recent highs key for reversals; market sentiment watched. Speculation that the Federal Reserve wouldn’t cut rates as expected spurred risk aversion, with traders seeking safety moving to the Japanese Yen, the Greenback, and the Swissie. The cross exchanges hands at 191.82.
12, ahead of falling to the Kijun Sen at 190.74. On the flip side, the GBP/JPY first resistance would be the 192.00 figure, followed by April’s 10 high at 192.95. The next resistance would be the current year-to-date high at 193.53. GBP/JPY Price Action – Daily Chart GBP/JPY Overview Today last price 191.84 Today Daily Change -0.58 Today Daily Change % -0.30 Today daily open 192.42 Trends Daily SMA20 191.13 Daily SMA50 189.89 Daily SMA100 187.13 Daily SMA200 185.
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