GBP/JPY Price Forecast: sellers take control below 50-day SMA
- GBP/JPY falls below 50-day SMA after failing near 216.00.
- Bearish RSI signals sellers are gaining control of momentum.
- Break below 214.75 exposes 212.45 and August low.
The GBP/JPY retreats on Wednesday as the cross-pair fails to climb past 216.00 and fell beneath the 50-day Simple Moving Average (SMA) of 125.56. The cross-pair trades at 214.25 down 0.37%.
GBP/JPY Price Forecast: Technical outlook
The GBP/JPY is neutral biased, with the pair holding below the 50-day SMA, with traders eyeing the 100-day SMA at 214.75, which could’ve opened the door for further losses. The next support would be the 200-day SMA at 212.45, followed by the August 7 low of 211.47.
The Relative Strength Index (RSI) reveals that sellers are gaining momentum, an indication that bears are in control.
On further strength, the GBP/JPY first resistance is the April 10 high of 216.60, followed by 217.’00. Above this area ists the July 10 high of 218.69, ahead of the July 15 high at 219.61.
GBP/JPY Price Chart – Daily
Pound Sterling Price Today
The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the strongest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.85% | -0.50% | -0.89% | -0.64% | -0.52% | -0.99% | -1.80% | |
| EUR | 0.85% | 0.33% | -0.04% | 0.21% | 0.31% | -0.20% | -0.97% | |
| GBP | 0.50% | -0.33% | -0.34% | -0.13% | -0.02% | -0.51% | -1.31% | |
| JPY | 0.89% | 0.04% | 0.34% | 0.23% | 0.34% | -0.15% | -0.96% | |
| CAD | 0.64% | -0.21% | 0.13% | -0.23% | 0.11% | -0.38% | -1.19% | |
| AUD | 0.52% | -0.31% | 0.02% | -0.34% | -0.11% | -0.49% | -1.28% | |
| NZD | 0.99% | 0.20% | 0.51% | 0.15% | 0.38% | 0.49% | -0.80% | |
| CHF | 1.80% | 0.97% | 1.31% | 0.96% | 1.19% | 1.28% | 0.80% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).
Author
Christian Borjon Valencia
FXStreet
Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.
