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22 Apr 2015
GBP/JPY rises above 179.00
FXStreet (Mumbai) - The British Pound is being bid higher after the release of BOE minutes, taking the GBP/JPY pair above 179.00 levels.
GBP/JPY: trades at two-week high
The pair rose to a two-week high of 179.30 after the BOE minutes released today showed policymakers expect the wage and price inflation to rebound eventually due to the faster pace of economic growth. The minutes also revealed all members agreed that it was more likely than not that the bank rate would rise over the 3 year forecast period.
GBP/JPY Technical Levels
The immediate resistance is located at 179.48 (50-DMA), above which gains could be extended to 180.13 (100-DMA). On the flip side, a break below 179.00 could push the pair back to the daily low of 178.44.
GBP/JPY: trades at two-week high
The pair rose to a two-week high of 179.30 after the BOE minutes released today showed policymakers expect the wage and price inflation to rebound eventually due to the faster pace of economic growth. The minutes also revealed all members agreed that it was more likely than not that the bank rate would rise over the 3 year forecast period.
GBP/JPY Technical Levels
The immediate resistance is located at 179.48 (50-DMA), above which gains could be extended to 180.13 (100-DMA). On the flip side, a break below 179.00 could push the pair back to the daily low of 178.44.