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21 Jun 2016

GBP/JPY back in the red below 152.50, mixed Brexit polls weigh

The GBP/JPY cross failed every attempt to the upside as the latest mixed Brexit polls continue to weigh on the pound across the board.

GBP/JPY finds support near 151.90 region

Currently, GBP/JPY drops -0.20% to 152.40, failing once again near 152.70-75 zone. The GBP/JPY cross ran through fresh offers over the last hour as risk sentiment wavers in response to the latest mixed opinion polls’ results on the EU referendum, with two out three polls favouring Bremain, while one still shows ‘Leave’ in the lead.

Moreover, stalled rally in the Asian equities combined with renewed weakness in the oil prices, also seems to keep the cross under pressure as JPY bulls continue to fight for control.

Data-wise, the public sector net borrowings data from the UK docket is lined up for release ahead of the ECB and Fed Chief’s testimony due later in the NA session.

GBP/JPY Levels to consider 

The pair has an immediate resistance at 153 (round number), above which 153.91/154 (20-DMA) would be tested. On the flip side, support is seen at 151.50/48 (psychological levels/ daily S1) that at 151.06/00 (10 & 5-DMA).

 

Jun 21, 2016

GBP/USD – Losses capped around 38.2% Fibo in Asia

Bid tone around Sterling weakened somewhat in Asia, pushing the GBP/USD pair into the red; however, losses are being capped around 1.4636 (38.2% Fibo
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Jun 21, 2016

EUR/GBP sees relief rally, jumps above 0.77

EUR/GBP snapped three-day losing streak in Asia to trade above 0.77 handle as the bid tone around Cable weakened somewhat following sharp gains in las
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