GBP/JPY revisits daily lows before moving back above 184.00

FXStreet (Mumbai) - Fresh offers hit Sterling driving it lower across the board in early European session. The GBP/JPY pair turned lower from the high of 184.50 to re-test the daily low before moving back to trade above 184.00 levels.

Hovers around 184.20

The pair currently trades around 184.20 levels. The sudden drop in the GBP goes unexplained since no major fundamental catalyst is seen behind the move.

Meanwhile, the moderate gains in the European stocks despite weak china data is weighing over the safe haven Japanese Yen.

GBP/JPY Technical Levels

The immediate resistance is located at 185.00, above which gains could be extended to 185.41 (200-DMA). On the other side, support is seen at 184.10 (Tuesday’s low) and 183.22 (Aug 24 low).