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4 Mar 2015
GBP/JPY recovers losses
FXStreet (Mumbai) - The GBP/JPY pair recovered losses as the UK Gilt yields ticked higher in anticipation of a rise in the UK services PMI data due for release later today.
Pound recovers as UK Gilt yields rise
The 10-year Gilt yield in the UK advanced 3.5 basis points to 1.877%, which helped the British Pound recover early losses as the UK services PMI for February is seen rising slightly to 57.5 from the previous figure of 57.2. A better-than-expected print could help the GBP/JPY pair rise well above 184.00 levels. The pair currently trades at the session high of 183.98; up 0.05%.
GBP/JPY Technical Levels
The immediate resistance is located at 184.25, above which another major resistance is seen at 185.06. On the other hand, support is seen at 183.64 and 183.09 (100-DMA).
Pound recovers as UK Gilt yields rise
The 10-year Gilt yield in the UK advanced 3.5 basis points to 1.877%, which helped the British Pound recover early losses as the UK services PMI for February is seen rising slightly to 57.5 from the previous figure of 57.2. A better-than-expected print could help the GBP/JPY pair rise well above 184.00 levels. The pair currently trades at the session high of 183.98; up 0.05%.
GBP/JPY Technical Levels
The immediate resistance is located at 184.25, above which another major resistance is seen at 185.06. On the other hand, support is seen at 183.64 and 183.09 (100-DMA).