24 Jun 2015
GBP/JPY downside risks mounting on Greece
FXStreet (Guatemala) - GBP/JPY is currently at 194.41 trading with a high of 195.89 and a low of 194.25.
GBP/JPY has been a downside play on the back of a turnaround in sentiment and headlines that bring back concerns that a deal for Greece will not materialise this week after all. Risk sentiment is favouring the dollar and yen once again as a result and Sterling is out of favour also.
GBP/JPY bears in control
The largest problem reported with the Greek negotiations are Greece's requirements around debt restructuring which is delaying the progress currently. Technically, the cross is down to test the sideways channel support and a break here would bring in 193.50 in to the picture guarding 192.00, the top of early May's ascending trend line.
GBP/JPY has been a downside play on the back of a turnaround in sentiment and headlines that bring back concerns that a deal for Greece will not materialise this week after all. Risk sentiment is favouring the dollar and yen once again as a result and Sterling is out of favour also.
GBP/JPY bears in control
The largest problem reported with the Greek negotiations are Greece's requirements around debt restructuring which is delaying the progress currently. Technically, the cross is down to test the sideways channel support and a break here would bring in 193.50 in to the picture guarding 192.00, the top of early May's ascending trend line.