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GBPJPY Sellers continue to prevail

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GBP/JPY retreats from intraday highs as it struggles to defend its first daily gain in four hours in the early London open hours on Monday, paying slightly near 181.00 by press time.

With this, the GBP/JPY pair breaks through the 21-day Exponential Moving Average (EMA) barrier around 181.30.

That said, bearish MACD signals and concerns about UK optimism keep the pair's sellers hoping for a return to the 180.00 mark. However, the extended upward sloping support line since early April, close to 179.60 at press time, appears to be a tough one for the GBP/JPY bears to break afterwards. .

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