GBPJPY has been bullish for a while on the higher timeframe with higher highs and higher lows. Price has found a support at around 183.50 and has formed a higher low at this key level confirming the bullish market structure. In addition to this, the GBP is the only one of the major pairs that still has a hike forecasted at the next monetary policy meeting of England suggesting that the GBP should continue becoming more valuable to investors.
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Approaching TP1
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Securing some profits
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TP1 hit
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Support tested again