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Alert - 14:30 (CET) - GbpJpy
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The GbpJpy is trading at 133.39, over yesterday's close at 133.33. In the hourly graphics, we see that the 20- and 50-day Exponential Mobile Averages (EMA) are under the 200-day EMA.
As the support at 136.08 (former 2008 low) was broken, the traders are now watching the next at 133.00 and 130.00 (key). The resistances at 140.00 (key), 147.12 (December 1st high) and 154.28 (November 11th high).
Right now, the stocks are in neutral territory, prompting the Yen to be in the same position. Tomorrow, we will know the Q3 GDP for the UK, expecting a contraction of 0.5%. If the decline is larger than expected, the Sterling market might price in deeper rate cuts in the next MPC meeting, in January.
Checking the daily graphics, the current price is under the 23.60% (233.01) and over the 0.00% (128.44) Fibonacci Retracement lines. The Bands of Bollinger show a volatility of 110 pips and the 60-minute Relative Strenght Index (RSI) is at 44 points, after being oversold.
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