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Sterling Slide: GBPJPY Breaks Critical Support as Bears Take Control

GBPJPY breaks trend line support after a long consolidation. At 211.45, it reaches an intraday low; now trading around 211.567.

Technicals

CMP -211.59

Trend

4- Hour chart

Value

 

 

55 EMA

212.55

CMP <value

Bearish

200- EMA

212.47

CMP < value

Bearish

365- EMA

212.14

CMP <value

Bearish

 Major support-  211.35/210.70/210/209.48/208. Major resistance - 212.20/213.31/214/215.

 

Momentum indicator

Inference

Value

CCI(50)

Bearish

-216.92

ADX

Bearish

 Strength increased from 14.80 to 21

 

It is good to sell on rallies around 212 with SL around 213.20 for a TP of 209.80/208.

 

 

 

 

 

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