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GBPJPY, GBPUSD Break Lower into Long-term Support

February 3, 2014

Christopher Vecchio

Talking Points: - British Pound steps back on weaker PMI Manufacturing report. - GBPUSD and GBPJPY tumble into important short-term support. - Plenty of event risk this week: US ISM Manufacturing today, BoE on Thursday. A weaker than expected UK PMI Manufacturing report has knocked the British Pound into pivotal levels from early-December against the Japanese Yen and the US Dollar . A break below $1.6310 exposes 1.6200 for $GBPUSD, while the GBPJPY slam lower is nearing its triangle measured 100% target at 165.54 . Follow him on Twitter at @CVecchioFX

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Source: DailyFx

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