GBP/JPY is currently chipping away the descending 50-hour moving average (HMA) hurdle of 145.51, having witnessed a bearish (falling) channel breakout earlier today. The relative strength index (RSI) on the hourly chart has moved to bullish territory above 50. The pair, therefore, could rise above the 50-hour MA hurdle, although any gains towards 145.89 (200-hour MA + 38.2% Fib R of 147.00/145.24) could be short-lived as long as the 50-hour MA is trending south. The prospects of corrective bounce above the 50-hour MA would weaken if the average reverses bounce from 145.24. Hourly Chart Trend: “‹”‹”‹”‹”‹”‹Bullish above 50-HMA 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 (BTC) price analysis: BTC/USD intimidated by $5,300 FX Street 4 years GBP/JPY is currently chipping away the descending 50-hour moving average (HMA) hurdle of 145.51, having witnessed a bearish (falling) channel breakout earlier today. The relative strength index (RSI) on the hourly chart has moved to bullish territory above 50. The pair, therefore, could rise above the 50-hour MA hurdle, although any gains towards 145.89 (200-hour MA + 38.2% Fib R of 147.00/145.24) could be short-lived as long as the 50-hour MA is trending south. The prospects of corrective bounce above the 50-hour MA would weaken if the average reverses bounce from 145.24. Hourly Chart Trend: "‹"‹"‹"‹"‹"‹Bullish above 50-HMA… 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.
