Daily pound to yen (GBP/JPY) Fibonacci retracement for December 7, 2023

Published by
Raynor de Best,
Dec 8, 2023
Whilst the pound weakened in September 2022, the GBP/JPY rate reached close to a 38.2 percent 50-day Fibonacci. Fibonacci - based off the famous infinite math sequence from 13-century Italy - is a metric often used in FX trading to find key levels of support and resistance. Essentially, the sequence potentially reveals thresholds on which traders can buy or sell assets and are often set as profit targets. When these retracements are met, traders will act.

British pound sterling (GBP) to Japanese yen (JPY) Fibonacci retracement as of December 7, 2023

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Release date

December 2023

Region

Japan, United Kingdom

Survey time period

December 7, 2023

Special properties

Close price; Fibonacci based on previous 50 days, and downward sequence

Supplementary notes

Figures have been rounded.

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