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The GBP/JPY currency pair was seen trading with a negative tone on Friday after hitting a daily high of 187.52. The Japanese yen’s strength weighed on the pound despite the Bank of England’s effort to emphasize they would keep rates higher for longer. The currency pair was seen trading at around 186.56, down 0.24%.The GBP/JPY pair erased last Thursday’s gains, as bears extended the downtrend to four days, extending its weekly losses to 0.96%. Nevertheless, they failed to push prices below the 186.00 figure, which could have opened the door to challenge lower levels. In that event, support would be seen at the 185.63 level, followed by the 185.00 figure. Further downside can be seen at the 184.71 mark.On the other hand, if GBP/JPY pair exchange rate stays above the 186.00 mark, that would keep bulls hopeful for higher prices, with the first resistance seen at the 187.00 figure. A decisive break would expose the 188.00 figure, followed by the Nov. 24 high at 188.66.
GBP/JPY Price Analysis – Daily Chart
GBP/JPY Technical Levels
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