GBPJPY rose on Thursday, and the technical bias is bullish due to higher lows in the recent uptrend.
The pair is currently trading near 155.047, multiple resistance levels can be seen above which may prevent the price from rising further
- Resistance level 1: 155.150
- Resistance level 2: 155.300
- Resistance level 3: 155.650
Below the price, multiple support levels can be seen which may prevent the price from falling.
- Support level 1: 154.860
- Support level 2: 154.680
- Support level 3: 154.400
United Kingdom will announce the April GDP data today. Higher data will indicate favorable for the Pound, so the GBPJPY currency pair is bullish, and vice versa.
Looking at the current price trend and economic development it may be a good trading choice to buy the GBPJPY currency pair near the current level.