Cross-rates signals: GBP/JPY remains under the pressure - Ester Holdings

Cross-rates signals: GBP/JPY remains under the pressure

Political risks sharply increased under the conditions of the imminent resignation of the British Prime Minister T. May. Also it is worth noting  the preservation of uncertainty around the Brexit deal, which can take place without a deal, if May’s receiver wouldn’t find a compromise between the government of Great Britain and the EU.

Cross GBP/JPY remains under the pressure while maintaining political risks. Renewal reductions should be expected at the moment of breaking through support: 138.50-30, opening the way to support levels and targets at the levels: 137.50 and 137.30. Resistance is located on the marks: 139.00 and 139.60. This currency pair remains very volatile due to a fundamental factor that should be considered when trading.

Hanzenko Anton

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