A post by @FirstSquawk on X.
GBP/JPY Rally Stalls Near 213.00 as Simple Moving Average Acts as Resistance - FX
@FirstSquawk on X
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GBP/JPY’s rally stalled near the 213.00 level as a simple moving average capped further gains, according to First Squawk. The pair had been pushing higher before running into technical resistance at that threshold. The moving average is acting as a ceiling, limiting upside momentum in the currency cross. The stall matters because it signals that buyers are struggling to clear a widely watched technical barrier. Traders will watch whether GBP/JPY can break and hold above 213.00 or instead retreat toward support.
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Named in this story
GBP/JPY, First Squawk