GBP is the worst performing major currency today. Taking a look at GBPJPY currency pair, we can see that the pair is continuing a pullback launched after a failed attempt of breaking above the resistance at 144.00. Should declines continue, the first support to watch can be found at 142.30 - 23.6% retracement of a recent upward impulse and a peak from early-September 2020. Key support is marked with the lower limit of the Overbalance structure and 50% retracement at 140.50. The pair may become more volatile near 1:00 pm GMT as the Bank of England will announce the monetary policy decision. No change to the level of rates is expected but central bankers may present findings of a study on negative interest rates in the United Kingdom.
Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
