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August 7, 2014

GBP/JPY Daily forex post August 7, 2014

Posted by: ffs @ 03:17 GMT Category: Daily Forex,GBP/JPY,Signals

GBP/JPY Technical view

Updated:  August 7, 2014 3:17:53 GMT
SPOT GBP/JPY Previous day OHLC
Open High Low Close Change
173.15 173.26 171.57 172.03 -1.12
Today's Support and Resistance
Resistance
Support
R3 173.30
R2 173.00
R1 172.30
S1 171.40
S2 171.00
S3 169.50

Sterling settled close to 2- month lows versus the yen on Wednesday, coming off sharply from the session highs after grazing key trendline resistances at 173.30 yen. Unless the UK currency settles above 172.30 in the day's session, the declines should extend to 171.00- 171.40 during the course of the day, with further losses likely in the days ahead

Trend direction

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

Trading Recommendations

  • Short:

    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
  • Long:

    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
    • NO TRADING CALLS FOR THE SESSION
Post ID: 9765
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