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20 May 2015
GBP/JPY dips below 187.50 ahead of BOE minutes
FXStreet (Mumbai) - The GBP/JPY pair was rejected at a high of 187.63 earlier today, after which the pair dipped to trade at 187.38 levels ahead of the Bank of England (BOE) minutes.
Pound offered in the early European session
The British Pound ran into offers in the early European session even though no major surprises are expected to come out of the minutes, which are widely expected to show a unanimous vote in favor of maintaining the t at record lows. The early sell-off in Pound could have been an extension of the previous session’s bear rally triggered by negative inflation reading.
GBP/JPY Technical Levels
The immediate support is seen at 187.10-187.00, under which the pair could accelerate losses to 185.94. On the other hand, a break above 187.63 could see the pair re-test 188.59 levels.
Pound offered in the early European session
The British Pound ran into offers in the early European session even though no major surprises are expected to come out of the minutes, which are widely expected to show a unanimous vote in favor of maintaining the t at record lows. The early sell-off in Pound could have been an extension of the previous session’s bear rally triggered by negative inflation reading.
GBP/JPY Technical Levels
The immediate support is seen at 187.10-187.00, under which the pair could accelerate losses to 185.94. On the other hand, a break above 187.63 could see the pair re-test 188.59 levels.