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August 5, 2014

GBP/JPY Daily forex post- US session August 5, 2014

Posted by: ffs @ 12:50 GMT Category: Daily Forex,GBP/JPY,Signals

GBP/JPY Technical view

Updated:  August 5, 2014 12:50:34 GMT
SPOT GBP/JPY Previous day OHLC
Open High Low Close Change
172.54 172.98 172.37 172.90 0.33
Today's Support and Resistance
Resistance
Support
R3 174.50
R2 173.80
R1 173.30
S1 172.80
S2 172.30
S3 171.00

Sterling came off the session highs after briefly testing trendline resistances at 173.30 yen. The pair has to settle above the resistances for the gains to extend to 173.80- 174.00. supports firmly placed at 172.30- 172.50

Trend direction

  • Short term: Bearish
  • Medium term: Bullish
  • Long term: Bullish

Trading Recommendations

  • Short:

    • N/A
  • Long:

    • Exit long positions initiated at 172.60 AT THE MARKET* * Current market price- 173.22
Post ID: 9733
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