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GBP/JPY falls modestly, moves away from 173.00

FXStreet (Córdoba) - Cable lost ground against the yen during the Asian session and dropped to 171.76, closing the bullish gap that was created at the beginning of the week. GBP/JPY rebounded during the European session but the recovery was capped by 172.65.

After Wall Street opening bell turned to the downside and fell to the 172.00 area, were currently trades 80 pips below the level it closed on Monday.

GBP/JPY levels to watch

To the upside, immediate resistance lies at 172.65 (European session high) and above here at 173.00 (Oct 20 high). While on the opposite direction support might be located at 171.80 and then 171.20 and 170.70.

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