Posted by: Babu Suresh | March 27, 2009

Forex-GBPJPY-27-03-09

GBP-JPY H4–H4–ChartsGBPJPY_H4-H4-270309

Subsequent to my 25th Mar. post, GBP has been hovering between my 1st support and 2nd resistance mentioned in that post.

Today upon confirming the news in black and white, that the UK economy’s battle over Govt. policies, politics, never before seen unrest and angry expressions from BOE on Govt. policies and growing isolation combined with uncertainty, extraordinary over dependence on US, which brought her down to her knees, lack of clarity on the next phase etc. etc. etc., Pound has begun to relent from its last few days’ hard stance.

RTTNews.com analysis on Pound: http://tinyurl.com/rtt-gbpjpy

GBP-JPY H1–H4 ChartsGBPJPY_H1-H4-270309

My probable supports are 138.25, 137.31, 136.37 and resistances are 142.75 and 144.49

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