GBP/JPY retraces its recent gains from the previous two days, trading around 190.90 during the Asian session on Friday.
GBP/JPY may find immediate resistance around the 21-day EMA at 191.63. The daily chart analysis indicates a potential for a weakening bullish bias. A breach below the ascending channel could signal the emergence of a bearish bias. The daily chart analysis indicates that the pair is attempting to break below the lower boundary of the ascending channel, suggesting a potential for a weakening bullish bias.
On the downside, a successful breach below the ascending channel may cause the emergence of the bearish bias and put downward pressure on the GBP/JPY cross to navigate the area around the seven-month low at 180.09 level, which was recorded on August 5. Further support appears at throwback support at 178.50 level. GBP/JPY: Daily Chart British Pound PRICE Today The table below shows the percentage change of British Pound against listed major currencies today.
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