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GBP/JPY forming a base on the week’s business

FXStreet (Guatemala) - GBP/JPY is trading at 182.15, up 0.15% on the day, having posted a daily high at 182.67 and low at 181.60.

GBP/JPY is contained within the sideways channel as we come to a close on the week, albeit testing the parameters. The pair has been up to the top of the channel but is settling on 182.20 and this support line. The divergence between the BoJ and BoE is likely to take a foothold once again now that the BoE’s inflation report has been digested.

GBP/JPY noteworthy levels

With spot trading at 182.16, we can see next resistance ahead at 182.17 (Hourly 20 EMA), 182.43 (Hourly 200 SMA), 182.61 (Hourly 100 SMA), 182.61 (Daily Classic R1) and 182.67 (Daily High). Support below can be found at 182.08 (Daily Classic PP), 181.98 (Weekly Classic PP), 181.90 (Weekly Low), 181.89 (Daily Open) and 181.60 (Daily Low).

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