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GBP Sterling Outlook: How GBP/JPY Price Could End Current Sideways Movement
On June 25, GBP/JPY corrected higher and created a higher low 135.81. Yesterday, the pair printed 135.17- its lowest level in six months, however; closed with a Doji pattern reflecting the seller’s indecision to keep pressing the price lower. At the start of this week the Relative Strength Index (RSI) fell from 43 to 34 then remained flat highlighting an exhausted bearish momentum and possibly more of a sideways movement. Looking at the daily chart we notice on Tuesday GBP/JPY entered the lower trading zone 135.55 – 136.40, however; it failed yesterday to close below the low end of the zone. Hence; if the sellers ... (full story)
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