26 Nov 2014
GBP/JPY rises but falters ahead of 186.00
FXStreet (Córdoba) - GBP/JPY pushed higher and reached fresh daily highs as pound strengthened broadly following in line with expectations UK GDP figures.
GBP/JPY rose over a full cent from daily lows and peaked at 185.78, but lost momentum ahead of this day’s range top that lies at 186.11 and is the immediate resistance level to overcome. At time of writing, the pair is trading at 185.60, recording a 0.17% gain since opening.
UK GDP in line with expectations
UK economy grew 0.7% during the third quarter and 3.0% on annual basis, matching analysts’ forecast which expected figures to be unrevised, but showed UK growth slowed compared to the second quarter.
GBP/JPY rose over a full cent from daily lows and peaked at 185.78, but lost momentum ahead of this day’s range top that lies at 186.11 and is the immediate resistance level to overcome. At time of writing, the pair is trading at 185.60, recording a 0.17% gain since opening.
UK GDP in line with expectations
UK economy grew 0.7% during the third quarter and 3.0% on annual basis, matching analysts’ forecast which expected figures to be unrevised, but showed UK growth slowed compared to the second quarter.