GBP/JPY pulls back to familiar territory near 182.00 following Tuesday's UK PMI miss

The GBP/JPY is down around 150 pips from Tuesday's early peak at 183.75, sliding 0.9% on the day as the Pound Sterling (GBP) pares away all of Monday'

The GBP/JPY is seeinga rapid decline back into near-term consolidation after a miss for the UK Composite PMI. The Guppy is down 0.9% top-to-bottom on the day so far. Tuesday's downside push sees the GBP/JPY trading back into familiar territory. s gains for the early week against the Japanese Yen . The GBP has waffled its market stance after a miss for UK Purchasing Manager Index figures on Tuesday. UK Preliminary Services PMI inches lower to 49.2 in October vs. 49.

5%; a miss for the indicator will make it increasingly difficult for the Bank of Japan to look ahead to ending their negative rate regime with inflation broadly expected to decline below the Japanese central bank's lower target band of 2%. GBP/JPY Technical Outlook The Pound Sterling has shed 0.9% against the Yen on Tuesday, tumbling from an eight-day high of 183.75 as the GBP/JPY starts to treat the 50-day Simple Moving Average as a price ceiling on the charts.

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