14 Jul 2015
GBP/JPY rises for fourth day in a row
FXStreet (Córdoba) - The pound rose sharply across the board on Tuesday on the back of comments from Bank of England policymakers that signaled that a rate hike is coming. GBP/JPY approached to 193.00, extending the rally that started last week from 185.30.
GBP/JPY eyes 193.00
The pair retreated during the Asian session on Tuesday and bottomed on European hours at 190.50, then started to recover and jumped with the first comments regarding the outlook of monetary policy in the United Kingdom.
Price peaked initially at 192.60, pulled back, but then resumed the upside and printed a fresh daily high at 192.85, hitting the strongest level since July 2.
From a technical perspective GBP/JPY is rising back above the daily 20-SMA. The upside now is about to test two important resistance levels located at 193.05 and 193.50.
GBP/JPY eyes 193.00
The pair retreated during the Asian session on Tuesday and bottomed on European hours at 190.50, then started to recover and jumped with the first comments regarding the outlook of monetary policy in the United Kingdom.
Price peaked initially at 192.60, pulled back, but then resumed the upside and printed a fresh daily high at 192.85, hitting the strongest level since July 2.
From a technical perspective GBP/JPY is rising back above the daily 20-SMA. The upside now is about to test two important resistance levels located at 193.05 and 193.50.