GBPJPY H4 OUTLOOK 29th MAY - 2nd JUNE 2017
After a long consolidation at the 4 Hr Time Frame, price starts to rally down after weak GDP figures that puts further pressure on the pound.
High inflation, slagging wage growth, lower than expected GDP, an election coming up plus the thought of Brexit looks to has started to take it tole on GBP.
After the latest Poll number show, the pound is expected to decline further. 50/61.8 Fib R level will be the area for short continuation if pullback occurs.
Politics will play another important role in the pounds pricing next week and if data is released indicating Labour is closing the gap on the Conservatives in the latest polls, further Pound weakness can unquestionably be expected.
High inflation, slagging wage growth, lower than expected GDP, an election coming up plus the thought of Brexit looks to has started to take it tole on GBP.
After the latest Poll number show, the pound is expected to decline further. 50/61.8 Fib R level will be the area for short continuation if pullback occurs.
Politics will play another important role in the pounds pricing next week and if data is released indicating Labour is closing the gap on the Conservatives in the latest polls, further Pound weakness can unquestionably be expected.
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