GDP is expected today by USD 1.8 from 1.1 last while 1,59 and 1,44 is my own goals. 1.8 prognosis must break the significant points at 1.27, 1.78 and 1.79 to infuse any bright economic recovery. However, the bright economic recoveries 1.8 points of global GDP in the mid range of 1.79 to 2.44 and averages above 2.54. Then 1.78 GDP then remains at the lower end of their ranges. 1.8 Why is vitally important is that the GBP / JPY is correlated with the USD / JPY to 94%. GBP / JPY is essentially a couple of dollars and go up and down with the USD / JPY. The lower end of the correlation is 68% and its lowest level at 42%, which means GBP / JPY and USD / JPY the partners will for a long period in the future remains. An increase in GDP will see higher prices in USD / JPY and GBP / JPY.
What prevents the GBP / JPY to rise 103.71 is USD / JPY. For GBP / JPY rises then you must break in 103.71 USD / JPY. Currently GBP / JPY is built on a base in 136.31. Today bottom of current is at 135.99 points with significant embedded in current 136.04, 136.26, 136.31, 136.36 and 136.39. Overall the GBP / JPY is on the floor and down. GBP / JPY 134.98 severely oversold begins.
The big break previous point is at 146.35 and 140.36 at the top of the channel. Only a break of 140.36 would be a race to 146.35. To move to the upside today, GBP / JPY must break 136.73, 136.75, 136.85 and. Then become targets 137.04, 137.51 and 137.85 and 137.99 in ovebought patches.