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28 Jul 2014
GBP/JPY steady around 173.00
FXStreet (Córdoba) - The GBP/JPY is rising modestly on Monday and remains moving sideways near 3-week low. On Asian hours bottomed at 172.73 and then bounced to the upside and peaked at 173.07. During the last hours it has been steady moving around 173.00.
GBP/JPY unable to rally above 173.00
Last Wednesday GBP/JPY bottomed at 172.58, reaching the lowest price since June 30. Cable then attempted to recover but it was unable to rally above 173.00.
On Friday the GBP/JPY posted the third weekly decline in a row, after falling modestly. The decline from levels on top of 175.00 found support above 172.50. Since then it has been consolidating and is now headed toward the eighth daily close in a row between 172.70 and 173.10.
GBP/JPY unable to rally above 173.00
Last Wednesday GBP/JPY bottomed at 172.58, reaching the lowest price since June 30. Cable then attempted to recover but it was unable to rally above 173.00.
On Friday the GBP/JPY posted the third weekly decline in a row, after falling modestly. The decline from levels on top of 175.00 found support above 172.50. Since then it has been consolidating and is now headed toward the eighth daily close in a row between 172.70 and 173.10.