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GBP/JPY Outlook (12 May 2021)

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GBP/JPY Outlook (12 May 2021)

ByJin Dao Tai

 MAY 12, 2021

GBP/JPY Outlook (12 May 2021)

Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the resistance zone of 153.000.

The UK Preliminary GDP q/q data (Forecast: -1.6%Previous: 1.3% revised from 1.0%) will be released later at 1400 (SGT).

Bank of England Governor Bailey will be speaking later at 1700 (SGT). During this time, there may be volatility in GBP.

GBP/JPY’s support zone is at 153.000 and the next resistance zone is at 155.000.

Look for buying opportunities of GBP/JPY.

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How do you see this 155 resistance zone?
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FxScotty
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We have established that based off the daily time frame :)

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