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GBP/JPY is consolidating above the Moving Averages. Previously, we had a 'V-Bottom' pattern, which has been confirmed. Also, it seems like there's a finished 'Flag' pattern. If so, there's an opportunity to have an upward price movement towards the already tested resistance at 144.88. The subsequent pullback from this level could lead to a bearish correction in the direction of the nearest important support at 144.01.
The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
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The number of Americans applying for initial unemployment benefits came in at a larger-than-forecast 870,000 last week, signaling that the recovery in the labor market is losing momentum as the coronavirus pandemic lingers and layoffs continue apace.
The GBP is likely to move upward until it reaches the resistance of 1.2795.
The aussie is expected to plummet for the next six months. What is the reason?
