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GBP/JPY retreats to 185.00

FXStreet (Córdoba) - GBP/JPY is retreating on Thursday after being unable yesterday to break above 186.10 and dropped to 185.00. Currently is trading slightly above the lows, still moving with bearish momentum. During the last hours remained inside a small trading range with support at 185.00 and resistance at 185.25.

On Wednesday the pair rose 75 pips but it was enough to post the highest daily close since October 2008. Despite being unable to reach fresh multi-year highs GBP/JPY is headed toward the sixth weekly gain in a row.

GBP/JPY limited by 186.10

The pound continues to face difficulties holding above 186.00 while the key resistance continues to be around 186.10. The mentioned level was tested in three out of the last five trading days.

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