215.644
Today
-0.14%
5 Days
+0.25%
1 Month
-1.26%
6 Months
+3.29%
Year to Date
+2.13%
1 Year
+8.00%
Opening Price
215.834Previous Closing Price
215.954The British Pound (GBP) reflects a slight market action against the Japanese Yen (JPY) near its day’s low at around 215.70 after the release of the United Kingdom (UK) Consumer Price Index (CPI) data for July.
The GBP/JPY consolidates at familiar levels on Tuesday, virtually unchanged near 216.00, with the cross-pair seesawing within the 215.85-216.22 range, as neither buyers nor sellers are able to clear key resistance/support levels during the day.
The British Pound (GBP) edges higher against the Japanese Yen (JPY) on Tuesday and extends gains for the third consecutive day, despite the mixed UK employment figures seen earlier on the day.
The British Pound (GBP) faces selling pressure against the Japanese Yen (JPY) after the release of the United Kingdom (UK) labor market data for three months ending in June, dropping to near 215.95.
The GBP/JPY cross-pair is poised to finish Monday’s session with gains of over 0.14% as traders prepare for the beginning of Tuesday’s Asian session. The cross-pair has climbed above the 50-day Simple Moving Average (SMA) at 215.52, often seen as a breakout that opens the door to further upside.
Brown Brothers Harriman’s (BBH) Elias Haddad says improving United Kingdom (UK) disinflation alongside solid Q2 Gross Domestic Product (GDP) should support the British Pound (GBP) against the US Dollar (USD) and Euro (EUR), but sees limited scope for a lasting rally.
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The downside prevails as long as 216.40 is resistance, with 215.33 and 215.03 as targets
above 216.40, look for 216.90 and 217.21.
The downside prevails as long as 216.40 is resistance, with 215.33 and 215.03 as targets
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