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The GBPJPY is unstable – Analysis – 17-8-2022
Despite the GBPJPY pair’s consolidation below 163.40 barrier, we notice its rally above the moving average 55, to hint the instability situation, as stochastic fluctuation below 50 will increase the chances of gaining the negative momentum to force the price to renew the correctional negative attempts and decline towards 161.80 followed by reaching the additional support at 159.80.
The expected trading range for today is between 163.40 and 161.80
The expected trend for today: Bearish
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