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28 Jul 2015
GBP/JPY prints fresh session high after UK data
FXStreet (Mumbai) - The bid tone on the GBP/JPY strengthened, pushing it to a fresh session high of 192.60 after the UK data showed economy expanded 0.7% in Q2 2015.
GBP/JPY: Trades around hourly 100-MA
The cross now trades just above the hourly 100-MA located at 192.43, a level which has acted as strong resistance earlier today. The UK Q2 GDP matched estimates, however, it was the 10th straight expansion witnessed by the US economy. Consequently, the investors cheered the data by sending the GBP higher across the board.
Moreover, the GBP was taking a hit across the board ahead of the data. The GBP/JPY had dropped to192.00 handle, before moving to a high of 192.60.
GBP/JPY Technical Levels
The immediate resistance is located at 192.93 (hourly 200-MA), followed by another resistance at 193.30 (76.4% Fib of Jun-July drop). On the other hand, support is seen at 191.82 (hourly 50-MA) and 191.00 (previous session’s low).
GBP/JPY: Trades around hourly 100-MA
The cross now trades just above the hourly 100-MA located at 192.43, a level which has acted as strong resistance earlier today. The UK Q2 GDP matched estimates, however, it was the 10th straight expansion witnessed by the US economy. Consequently, the investors cheered the data by sending the GBP higher across the board.
Moreover, the GBP was taking a hit across the board ahead of the data. The GBP/JPY had dropped to192.00 handle, before moving to a high of 192.60.
GBP/JPY Technical Levels
The immediate resistance is located at 192.93 (hourly 200-MA), followed by another resistance at 193.30 (76.4% Fib of Jun-July drop). On the other hand, support is seen at 191.82 (hourly 50-MA) and 191.00 (previous session’s low).