Theresa May’s trip to Brussels was an attempt to get the Brexit negotiations to a point where EU officials would agree to begin discussions on trade. In the meantime, get an updated view from the 5 December GBPJPY Technical Analysis.
5 December HotForex – The vital UK Services PMI number significantly underwhelmed at 53.8 when exceptions were for 55.20. A weak set of data included, slowing business activity, a sharp and increasing rise in prices and subdued job creation. However, it is the sixteenth consecutive month with a reading north of 50.0 (showing a growing sector) its just the rate of growth slowed significantly during November.
Earlier the Eurozone Services PMI’s were in line and showed growth in the four key economies and a 17 year high for job creation and increasing prices across all the EUR services sector.
5 December GBPJPY Technical Analysis
EURGBP pivots around 0.8828 from an earlier high of 0.8865 and a session low under 0.8800. GBPJPY fell to the lower Bollinger band and a support zone of the 200-period moving average at 150.36, resistance on the H1 chart is initially at the cluster of fractal lows at 151.20 and then the 20-period moving average at 151.55 and the next group of fractal highs at 151.90.
This article about 5 December GBPJPY Technical Analysis was written by Stuart Cowell, Market Analyst at HotForex. The provided article is a general marketing communication for information purposes only. It does not constitute an independent investment research. Nothing in this communication contains an investment advice or an investment recommendation. It also does not contain a solicitation for the purpose of buying or selling of any financial instrument.
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