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GBPJPY Bulls on Guard: Buy the Dip at 206 as Support Holds Firm – Target 208 in Sight 
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- RES 4: 1.5165
- RES 3: 1.5050
- RES 2: 1.4981 (61.8% retracement of 1.5163 and 1.46872)
- RES 1: 1.4880 (200 day Hourly EMA)
PRICE: 1.48542 @ 4:42GMT
- SUP 1: 1.4850 (200 day HMA)
- SUP 2: 1.4800
- SUP 3:1.4747 (19th Mar low)
- SUP 4: 1.4635
Commentary:
GBP/USD is struggling to break psychological resistance 1.5000 and has retreated from that level. Overall trend is bearish as long as 1.5000 holds.
Short term trend is weak and is expected to reach 1.4634 year low. Overall bearish invalidation can happen only if closes above 1.5000 level.
