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Forex: GBP/JPY Technical Analysis – Pound Rebounds at Trend Line

By , Currency Strategist
30 August 2013 09:31 GMT

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GBP/JPY Technical Analysis

  • Bounce from rising trend line support aims for 154.33-90 area (channel top, 38.2% Fib expansion)
  • Support seen in the 149.70-150.55 region (trend line set from mid-February, rising channel bottom)
  • Break under 149.70 eyes support at 149.69; Push above resistance targets 156.57 (50% Fib)

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dailyclassics_gbp-jpy_1_body_Picture_12.png, Forex: GBP/JPY Technical Analysis – Pound Rebounds at Trend Line

Daily Chart - Created Using FXCM Marketscope 2.0

--- Written by Ilya Spivak, Currency Strategist for Dailyfx.com

To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak

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30 August 2013 09:31 GMT