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February 4, 2025

GBP/JPY Daily Outlook: Price Action Holds at Key Support Level

The GBP/JPY exchange rate has shown resilience, recovering ahead of the critical support level at 189.31. Currently, the intraday bias stands neutral. Should the pair decisively break this support level, it may signal the conclusion of the corrective pattern from the 180.00 mark. Traders should remain vigilant, monitoring price action for cues on potential reversals or continued strength in this currency pair. As market conditions evolve, updating strategies to adapt to emerging trends will be vital.

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