Current week didn’t start well for bulls on GBPJPY. During the weekend news showed up that German PM is going to start Article 50 procedure before March 2017. Markets were a little careless about this event because earlier news said that it will happen no sooner than in the end of 2017.

This information helped the bears and since beginning of the session GBPJPY lose its value. So far local support at 130.40 was broken and the price reached 130.10. Current target of the bears is support at 129.60 and this level should defend itself. In the longer time GBPJPY is in consolidation between support at 129.60 and resistance at 141.30.

The main scenario for GBPJPY is test of 129.60 support and rebound in direction of 141.30. Less probable scenario is breaking of mentioned level at 1229.60, If bears will be this successful, it will open road to support at 125.60.

2016-10-03_analiza_gbpjpy_h1

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