Friday, December 6, 2019
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Technical Analysis – GBP/JPY positive picture loses steam

GBP/JPY positive picture loses steam; transitions into a sideways market. GBP/JPY’s directional momentum has disappeared after sellers ceased further gains on October 17, having rallied strongly from October 8. A second attempt higher was denied, shifting the pair into a directionless market, which is also backed by the flat 50-period simple moving

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Technical Analysis – GBP/JPY bias tilted to the downside

GBP/JPY bias tilted to the downside; bears likely waiting below 130.68. GBP/JPY has been drifting below two-month highs after failing to close above the 135.50 resistance area. The pair could follow a neutral-to-bearish direction in the short-term as the RSI is sloping downwards to meet its 50 neutral level and the MACD is extending negative momentum below its red signal line. Yet,

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