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GBP/JPY possible continuation of the fall

Looking at the chart we will see that the price declined from 137,250, and failed to form a new higher high to continue the bullish trend, this is how we look down.
Looking at the chart we will see that the price declined from 137,250, and failed to form a new higher high to continue the bullish trend, this is how we look down.
The British pound rallied significantly during the trading session on Monday to kick off the week, as we continue to see a lot of noise in this general vicinity. The 50 day EMA and the 200 day EMA both have come into the picture to show significant resistance in of course a bit of hesitation as the moving averages are both very flat. The size of the candlestick is of course relatively bullish as well, but ultimately, we are in an area of congestion and that should be paid close attention to.
GBP/JPY fell to 136.56, down 0.05% during the day, during open trading in the UK on Tuesday. The pair rose to its highest level in four days on Monday, but failed to cross the downward trend line of October 11th. Yesterday we had a jump in the number of people infected with the corona virus in the UK. The UK has said no to more trade negotiations with the EU; there are still fears of Brexit without a deal, which affects and weakens the pound.
In general, we can expect a continued decline for this currency pair due to both the corona and Brexit. Japan, on the other hand, will always be a safe haven for investors in these volatile times.

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