OctaFX | OctaFX Forex Broker
Open trading account

GBP/JPY snaps four day losing streak

FXStreet (Mumbai) - Sterling received a boost from the upward revision of the UK GDP forecast by the OBR, which ensured the GBP/JPY cross snapped four-day losing streak.

Fails to sustain above key fib

The cross clocked a high of 185.79, but failed to sustain above 185.63 (38.2% of 180.66-188.70). Sterling remained relatively resilient to the US data and actually clocked a fresh session high against the USD. Meanwhile, the USD/JPY pair jumped higher on an upbeat UK data.

Consequently, the GBP/JPY cross jumped to a session high of 185.79. Ahead in the day, the action in the US stocks could affect the pair.

GBP/JPY Technical Levels

At 185.40, the immediate resistance is located at 185.63 (38.2% of 180.66-188.70), above which gains could be extended to 185.79 (daily high). On the other side, support is seen at 184.93 (50-DMA) and 184.32 (previous day’s low).

USD/CAD around 1.3330 on mixed US data

The greenback remains on the right footing vs. its Canadian peer on Wednesday, taking USD/CAD to the 1.3330/25 band so far...
Read more Previous

USD/CHF clocks 5-year high

The USD/CHF pair rose to a 5-year high of 1.0261; its highest since September 2010 after a batch of upbeat US data triggered fresh USD rally.
Read more Next
Start livechat