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3 Jun 2015
GBP/JPY drops below 190.00
FXStreet (Mumbai) - The selling interest in GBP spiked after a weaker-than-expected UK services PMI, pushing the GBP/JPY pair lower to a session low of 189.57.
GBP/JPY trades at 189.80
The British Pound was sold across the board after the UK services PMI in May fell to 56.5 Vs. expectation of 59.2. Service sector forms a bigger part of the UK GDP, consequently, a weaker-than-expected print drove the British Pound lower across the board.
However, the pair has recovered slightly to trade at 189.80, mainly on account of a jump in the USD/JPY pair to 124.30 levels.
GBP/JPY Technical Levels
A break above 190.00 could see the pair target the daily high of 190.78. On the flip side, a break below 189.33 (hourly 200-MA) could push the pair lower to 188.52.
GBP/JPY trades at 189.80
The British Pound was sold across the board after the UK services PMI in May fell to 56.5 Vs. expectation of 59.2. Service sector forms a bigger part of the UK GDP, consequently, a weaker-than-expected print drove the British Pound lower across the board.
However, the pair has recovered slightly to trade at 189.80, mainly on account of a jump in the USD/JPY pair to 124.30 levels.
GBP/JPY Technical Levels
A break above 190.00 could see the pair target the daily high of 190.78. On the flip side, a break below 189.33 (hourly 200-MA) could push the pair lower to 188.52.