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10 Sep 2013
GBP/USD jumps above 157.80 to reach 4-year highs at 157.90
FXstreet.com (San Francisco) - After jumping around 175 pips from 156.15 in the European session, the GBP/JPY has broken above the May 11 maximum at 157.80 to reach fresh highest level since August 2009 at 157.90.
Currently, the GBP/JPY is trading at 157.80, 1.0% positive on the day. The short term perspective is slightly bullish according to the FXstreet.com Trend Index in the 1-hour chart. Indicators such as MACD, CCI and Momentum are pointing to the north while the Stochastic is bearish.
GBP/JPY levels
The Sterling would face resistances against the Japan Yen at 158.50, 159.00 and the 160.00 key level. On the downside, supports are at 157.50, 156.55 and 156.20.