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GBPJPY extends sideways pattern below 50-day SMA
video GBPJPY had been in a prolonged uptrend since January, posting an eight-year high of 186.75 on August 22 before experiencing a pullback. Even though the pair staged a solid recovery, it has been rangebound for the past two weeks, with the narrowing Bollinger Bands hinting at low volatility ahead. Should the price march higher and reclaim its 50-day simple moving average (SMA), immediate resistance could be met at the July high of 184.00, which also acted as a strong ceiling in October. Piercing through that wall, the pair could revisit its eight-year high of 186.75. If that hurdle also fails, the price could ... (full story)