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The GBP/JPY pair managed to breach 144.20 resistance clearly yesterday to regain the bullish bias and record big gains by reaching 146.55 level. Meanhwile, we will depend on the new support base formed by the breached resistance to expect targeting new upward levels that start at 147.85 followed by 150.95. Stochastic reinforces the price attempt to regain the bullish bias by consolidating within the overbought areas. This will provide new momentum and ease the attempt to record the waited targets. The expected trading range for today is between 144.80 and 147.85
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Analytiker: Hossam Soliman Ali
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*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.