GBP Nationwide House Prices m/m

GBP Nationwide House Prices m/m out in 90 minutes from now is expected to see GBP/JPY to drop to 232.06 and then possibly rebound later to test the 234.38 barrier resistance later in the day today.

The trendlines given in red, were broken to the top side, so its all the way to 234.38 strong barrier.

This is the key barrier which decides the future course of action for GJ, whether it wants to continue its journey to 250 or will bounce back from here.

A break of 234.38 takes us to 250 or a bounce takes us back a 100 or so pips, overall we have a bullish trend developing here, considering the daily and weekly charts.