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GBP/JPY Sees 1.5% Bounce Off Session Lows

GBP
  • GBP/USD inches to a fresh high just after the London close, putting the pair at new intraday highs as well as (briefly) north of the mid-Feb resistance of 1.2269.
  • A close and break above this mark would be a bullish development in the near-term, but the more solid upside level crosses at the Dec/Jan highs of 1.2446/48.
  • Having traded heavy through the Monday open, GBP is now among the strongest currencies in G10, second to just the SEK and tipping GBP/JPY into positive territory and prompting an near 1.5% recovery off the 158.97 session lows.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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