6 Jun 2013
GBP/JPY pierces 153.00
FXstreet.com (Barcelona) - The cross is prolonging its intraday correction lower on Thursday, penetrating the key support at 153.00 after hitting session highs around 153.40/45.
The BoE left intact both the lending benchmark and the Gilt purchases at 0.5% and £375 billion, respectively, broadly in line with market estimates. “Prices continue to consolidate below resistance at 154.00. A break below support at 152.30 targets 149.53”, suggested I.Spivak, Currency Strategist at DailyFX.
As of writing, the cross is up 0.20% at 152.91 with the next resistance at 153.75 (high Jun.4) followed by 153.80 (Kijun line) and finally 154.21 (high May 31). On the flip side, a breach of 152.35 (low Jun.4) would bring 152.00 (low Jun.3) and then 151.76 (low May 22).
The BoE left intact both the lending benchmark and the Gilt purchases at 0.5% and £375 billion, respectively, broadly in line with market estimates. “Prices continue to consolidate below resistance at 154.00. A break below support at 152.30 targets 149.53”, suggested I.Spivak, Currency Strategist at DailyFX.
As of writing, the cross is up 0.20% at 152.91 with the next resistance at 153.75 (high Jun.4) followed by 153.80 (Kijun line) and finally 154.21 (high May 31). On the flip side, a breach of 152.35 (low Jun.4) would bring 152.00 (low Jun.3) and then 151.76 (low May 22).