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17 Apr 2015
GBP/JPY erases daily gains
FXStreet (Córdoba) - GBP/JPY lost momentum after the beginning of trading in Wall Street and retreated erasing daily gains.
Earlier the pair broke above Thursday's highs located at 178.05 and jumped to 178.70/85 (1-week high) boosted after the release of economic data from the United Kingdom. Afterwards the pair lost momentum and currently is back below 178.00, approaching daily lows.
The pair is trading flat on Friday, at 177.70/75, a hundred pips below daily highs; still on its way to the biggest weekly gain since early February.
GBP/JPY: important comeback
The pound has been able to avoid a weekly close under the important psychological and technical level of 176.00. The pair traded in January and in April momentarily below but so far it has always been able to rise back above. The mentioned area has become a key level to watch, a break below could open the doors for further declines.
Earlier the pair broke above Thursday's highs located at 178.05 and jumped to 178.70/85 (1-week high) boosted after the release of economic data from the United Kingdom. Afterwards the pair lost momentum and currently is back below 178.00, approaching daily lows.
The pair is trading flat on Friday, at 177.70/75, a hundred pips below daily highs; still on its way to the biggest weekly gain since early February.
GBP/JPY: important comeback
The pound has been able to avoid a weekly close under the important psychological and technical level of 176.00. The pair traded in January and in April momentarily below but so far it has always been able to rise back above. The mentioned area has become a key level to watch, a break below could open the doors for further declines.