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Lucas: GBPJPY Death Cross gives life to short strategy

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Steve Lucas from 3c Analysis has spotted a Death Cross, where the 50 day average crosses below the 200 day average, in GBPJPY and expects weakness in sterling to support his short strategy. 

An October rally has stalled at the 50 and 200 day moving averages and the pair has broken a trend of higher weekly lows. 

Sell at market and 184.60 

Stop: 185.26, Friday’s low.
Targets: 182.76, the 15th Oct low and 181.84, the 2 week base.