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GBPJPY Weekly Technical Analysis | December 6, 2014
GBPJPY is near to its psychological level at 190. This pair has enough bullish power to break that level. If it can break successfully, then we can some bullish movement on this pair. According to fibo, next target will be another psychological level at 200 area. In the coming days, if this pair fails to break this 190 level, then we can see some retracement in this pair. From retracement, we need to find bullish pullback to enter buy entry again. Weekly pivot is on 188 level, so this can be good buying zone.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 192.66
Resistance One (R1): 190.98
Pivot Point: 188.00
Support One (S1): 186.32
Support Two (S2): 183.34
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