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GBPJPY Resistance Challenged by Upcoming Data
We've got a ton of data coming up for the British Pound which could challenge the GBPJPY resistance that the pair hit last week after BOE Super Thursday. The tide could still turn this week with these major catalysts lined up. With that, it is time to conduct an IDDA to help you develop a trading strategy for this naughty forex pair. Daily Time Frame: Before Super Thursday, the GBP/JPY pair hit a 6-month resistance at 147.84. The combination of the economic data and market sentiment forced the pair to turn around and move towards the 23% Fibonacci and pivot level of 145. But it didn't quite get there. On Monday the ... (full story)
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