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Pound Sell-Off Accelerates: GBP/JPY Drops to 209.93, Eyes Major Support Zone

GBPJPY declined sharply on board-based pound buying.  It is now trading around 210.207 after reaching an intraday low of 209.93.

 

Technicals

CMP -210.23

Trend

1- Hour chart

Value

 

 

55 EMA

210.67

CMP < value

Bearish

200- EMA

210.09

CMP > value

Bullish

365- EMA

210.20

CMP < value

Bearish

 

Major support- 209.80/209.48/208. Major resistance - 211/212/213.15/214

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-66.69

ADX

Neutral

 

 

It is good to sell on rallies around 210.48-50 with SL around 211 for a TP of 209.

 

 

 

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