GBPJPY Chart Technical Outlook

GBPJPY Chart Technical Outlook recovery hits resistance at reverse trendline 182.25
The Pound seems unable to capitalize on Yen’s weakness on Friday, with GBO bulls capped so far below the previous trendline support, weighed by lower-than-expected UK retail sales data and the dovish BoE monetary policy decision on Thursday.

Technical indicators remain negative, with 181.20 and 180.45 support levels still on the bears’ focus.

Bulls would need to break above the mentioned trendline at 182.25 and the 4h 50 SMA, around 183.00 to ease downside pressure.

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