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GBPJPY favors positive scenario in short-term
GBPJPY is showing bullish signals in the four-hour chart as the MACD is strengthening in the positive area and the RSI is resuming upside momentum above its 50 neutral level. The pair has created a higher low around the 127.50 barrier but this is not enough for a complete violation of its downward pattern as the price also needs to post a higher high above its previous peak of 129.20. A forceful rally above 130.00, which coincides with the 38.2% Fibonacci of the upleg from 135.65 to 126.53, would lead the pair out of the cloud, providing more convincing signs that an uptrend is in progress. In such a case, the ... (full story)