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GBP/JPY heading lower as PM May plays keep-away with Brexit proposal

  • Sterling halts Monday's extended slide in early Tuesday action.
  • Investor confidence continues to get shredded as PM May heads into another no-confidence vote as she intentionally withholds on the parliamentary Brexit vote.

GBP/JPY is in play near 142.30 after halting an early-Tuesday slide into the 142.00 handle as Brexit fears continue to pull the Sterling lower.

The Pound peaked on Monday at 142.25 before getting sent back down the charts heading into Tuesday where the Guppy bottomed out at the 142.00 major barrier; Brexit concerns are set to weigh on the GBP through the Christmas holidays after PM May decided to bleed the clock on her withdrawal proposal, which is still awaiting a parliamentary vote. Mrs. May decided to hold the withdrawal blueprint back until the third week of January, prompting opposition Jeremy Corbyn to officially call for a no-confidence vote in Theresa May's government. January is set to be a tense month for the Pound, but little is expected to alleviate bearish pressures until then.

GBP/JPY Technical Levels

GBP/JPY

Overview:
    Today Last Price: 142.27
    Today Daily change: 6.0 pips
    Today Daily change %: 0.0422%
    Today Daily Open: 142.21
Trends:
    Previous Daily SMA20: 144.03
    Previous Daily SMA50: 145.53
    Previous Daily SMA100: 145.28
    Previous Daily SMA200: 146.72
Levels:
    Previous Daily High: 143.24
    Previous Daily Low: 142.16
    Previous Weekly High: 143.94
    Previous Weekly Low: 141.18
    Previous Monthly High: 149.5
    Previous Monthly Low: 144.02
    Previous Daily Fibonacci 38.2%: 142.57
    Previous Daily Fibonacci 61.8%: 142.83
    Previous Daily Pivot Point S1: 141.83
    Previous Daily Pivot Point S2: 141.45
    Previous Daily Pivot Point S3: 140.75
    Previous Daily Pivot Point R1: 142.92
    Previous Daily Pivot Point R2: 143.62
    Previous Daily Pivot Point R3: 144

 

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