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GBP/JPY Hits Strong Support At 171.50
Technical Sentiment: Neutral Key Takeaways CBI Industrial Order Expectations dropped below expectations; GBP/JPY dropped from the resistance of the triangle down to 171.50; More losses are expected on a break below 171.50. U.K. Industrial Order Expectations indicator was forecasted at 7, above March level, yet disappointed by dropping to -1. This led to a quick sell-off among GBP pairs. The damage was limited during the European Session as support levels held sellers in check. GBP/JPY was looking ready for a major break-out outside the triangle formation when price perfectly rejected off the resistance, only to fall ... (full story)