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9 Aug 2013
GBP/JPY, pulled by gravity?
FXstreet.com (Chicago) - GBP/JPY had lost 0.63% throughout Friday as the pair was unable to recover from precipitous morning fall.
The UK released its CB Leading Economic Index for July for a -0.2% vs. previous 0.4% this morning along a total trade balance at -1.548B vs. expected -2.350B. In the land of the rising sun the Nikkei closed up with nearly flat gains at 0.07% and the FTSE100 accumulated 0.82% at closing bell.
Price action indicated the pair attempted to surpass 149.60 zone unsuccessfully as it was sent to lower grounds around 149.30 zone. Trading at 149.31, the price navigated between supports at 149.22 (July 5th lows), 149.05 (July 11th lows) ahead of 148.85 (June 19th lows) and resistances at 149.43 (June 16th highs), 149.65 (June 24th lows) followed by 149.86 (July 17th lows).
The UK released its CB Leading Economic Index for July for a -0.2% vs. previous 0.4% this morning along a total trade balance at -1.548B vs. expected -2.350B. In the land of the rising sun the Nikkei closed up with nearly flat gains at 0.07% and the FTSE100 accumulated 0.82% at closing bell.
Price action indicated the pair attempted to surpass 149.60 zone unsuccessfully as it was sent to lower grounds around 149.30 zone. Trading at 149.31, the price navigated between supports at 149.22 (July 5th lows), 149.05 (July 11th lows) ahead of 148.85 (June 19th lows) and resistances at 149.43 (June 16th highs), 149.65 (June 24th lows) followed by 149.86 (July 17th lows).