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British Pound (GBP) Price Outlook: GBP/JPY Closes in on Major Resistance Levels

October 14, 2021

Via: DailyFX

The strength of the recent advance in GBP/JPY is facing a key test at the 156.11 high recorded on May 27 and it will likely pause at that level as traders decide whether to keep buying the pair. If it does break through, GBP will be at its highest level since early 2018.

Moreover, a further advance above the 156.62 high recorded in February that year would take GBP to its highest against JPY for more than five years, as shown on the weekly chart below.

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