On Friday morning, the GBP/JPY passed the support of the weekly S3 simple pivot point at 153.10 and touched the 153.00 mark.
In the case that the rate extends the decline, it would have no technical support. Namely, the 152.50 and 152.00 levels could act as support. These levels provided resistance during the pair’s early October surge.
On the other hand, a recovery of the rate could find resistance in the weekly S3 simple pivot point first. Afterwards, the 153.65/153.77 zone might keep the rate down, as it did since mid-Thursday.
