GBPJPY Chart Technical Outlook

GBPJPY Chart Technical Outlook Bulls lose momentum with the pair capped below 174.40. The Sterling’s uptrend from Wednesday’s lows has failed to find acceptance above 174.40, and bulls have lost traction on Thursday, with the Yen favoured by upbeat Japanese data and a sourer market mood.

According to data released by the Cabinet Office, the Japanese economy grew at a 2.7% annual rate in the first quarter, revised from previous estimations of a 1.6% growth and beating market expectations of 1.9%.

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