FXStreet (Mumbai) – The GBP/JPY pair was rejected at the high of 190.32 after which it pared gains to trade at 189.55-189.50 levels.
Pound under pressure
The British Pound suffered a fresh round of sell-off as the US currency desks joined the party in bidding the USD higher across the board. The GBP/USD pair fell to a low of 1.5332; down 0.29% for the day.
Meanwhile, the rise in the USD/JPY pair appears to have halted around 123.60. Consequently, the GBP/JPY pair fell back to 189.50 levels. Ahead in the day, the market’s appetite for the USD is likely to influence the GBP/JPY cross.
GBP/JPY Technical Levels
The immediate resistance is seen at 189.80-190.00, above which pair could re-test the daily high of 190.32. On the flip side, a break below 189.00 could drive the pair lower to its 5-DMA currently located at 188.65.
(Market News Provided by FXstreet)