GBP/JPY stays heavy for fourth consecutive day, nears lowest levels since July 01. The key Fibonacci retracement may offer intermediate moves but buyers are less likely to enter below 100-day SMA. June low is on the bears’ radars below the immediate stop beyond 133.00. GBP/JPY stays mildly offered while declining to 133.98 during the pre-UK opening on Tuesday. In doing so, the pair sellers catch a breather around the lowest since early July amid the oversold RSI conditions. Other than the aforementioned momentum indicator, the 50% Fibonacci retracement of March-September upside by GBP/JPY also probes the bears around 133.35. As a result, the quote’s further weakness is limited beyond the key Fibonacci retracement support, a break of which will recall June month’s low of 131.76 back to the chart. On the contrary, July 24 low near 135 may restrict the pair’s short-term pullback. Though, any buyers are likely to remain cautious unless witnessing a break of 100-day SMA, at 135.73 now. Given the pair’s ability to cross 100-day SMA on a daily closing, multiple upside barriers around 136.60/65 can question the GBP/JPY buyers as portrayed by a short-term horizontal line. GBP/JPY daily chart Trend: Bearish FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Bitcoin Price Forecast: BTC lacks healthy support levels on the downside – Confluence Detector FX Street 2 years GBP/JPY stays heavy for fourth consecutive day, nears lowest levels since July 01. The key Fibonacci retracement may offer intermediate moves but buyers are less likely to enter below 100-day SMA. June low is on the bears’ radars below the immediate stop beyond 133.00. GBP/JPY stays mildly offered while declining to 133.98 during the pre-UK opening on Tuesday. In doing so, the pair sellers catch a breather around the lowest since early July amid the oversold RSI conditions. Other than the aforementioned momentum indicator, the 50% Fibonacci retracement of March-September upside by GBP/JPY also probes the bears around 133.35. As… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.