EUR/GBP Extends Gains Near 0.8720 Ahead of German Data"EUR/GBP has continued its upward trend for the second consecutive day, trading near the 0.8720 level in early European trading on Monday. The currency pair received support ahead of significant economic data releases from Germany.
However, preliminary Gross Domestic Product (GDP) data for Germany is expected to show a 0.3% decline for the quarter, with a 0.7% year-on-year decrease, compared to a 0.2% decline in the previous report. Additionally, initial forecasts for the Consumer Price Index (MoM) indicate a decrease of 0.2%, down from the previous 0.3%. Furthermore, the Euro weakened following the European Central Bank's (ECB) decision to maintain the deposit interest rate at 4.0%, reflecting concerns about the deteriorating economic outlook in the Eurozone.
ECB President Christine Lagarde is navigating a delicate balance, steering the central bank through a challenging economic landscape. Maneuvering between a weakening economy and strong inflationary pressures is no easy task. With the increasing complexity of monitoring the Middle East crisis, relying solely on data seems unwise.
On the other hand, the British Pound (GBP) may face challenges as traders adopt a cautious stance ahead of the Bank of England's (BoE) policy meeting scheduled for Thursday. Many predictions suggest that the central bank will maintain its current interest rate at a 15-year high of 5.25% due to growing concerns about economic recession.
The UK economy is feeling the strain due to high-interest rates, adding to the challenges posed by persistent inflation. Economic data indicates significant declines in various sectors, coupled with high inflation, putting additional pressure on household budgets.
Gbpjpysignal
GBPJPY BUYHello, according to the analysis of the GBPJPY pair, there is a good opportunity to buy. With the break of the downward channel as shown in the analysis, we also notice that the price returned to the downward channel to be retested successfully. All these factors confirm that the market is for purchase. good luck for everbody
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Descending Channel Breakout We expect further upside on this pair which is signalled by the breakout of the descending channel pattern. We can also see the formation of a new high and a breakout of a key level which further supports our directional basis. Entry on the retest of the key level.
GBP JPY fluctuates as threat of intervention increasesThe yen is approaching the key psychological level of 150 yen per dollar after the interest rate gap with the US widened due to hotter-than-expected inflation data. The currency traded just below that rate against the greenback on Friday morning in Asia amid speculation that Japanese authorities would intervene if the yen suddenly weakens. The Group of Seven reaffirmed its position that excessive moves are problematic, a senior finance ministry official said, during a meeting on Thursday in Morocco. Yuta Suzuki, vice president of MUFG Bank Ltd. in New York
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Day trading setup!Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY Analysis. Another day trade signal!Hello Everyone. I want share my idea about GBPJPY pair which is signal from me.
After strong bearish moments of GBP i still looking that pair bullish. the reason is weakness of JPY index which don't have bottom and coming pretty strong down at all timeframe.
Here why i decide open long position the reason is after strong bearish movement GBP found some support level which stopped price fall and at second test we saw pretty strong price up movement which tested broke daily support level but rejection was not strong. for that i think it will continue up movement to second daily resistance which is perfect for day traders.
Open Long Position - 182.000
Stop Loss - 181.500
Take Profit - 183.670
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBP/JPY Faces Uncertainty: Key Economic Indicators in FocusThe GBP/JPY pair is trading in a sideways pattern, hovering just above the 183.00 level. JPY’s underperformance and the BoJ’s dovish stance are significant factors. On the UK front, the potential pause in interest rate hikes by the BoE due to emerging recession fears, coupled with technical indicators pointing at a potential bearish momentum for the Yen, suggests a possible downward move.
TRADE IDEA DETAILS:
CURRENCY PAIR: GBP/JPY
CURRENT TREND: Sideways with potential bearish undertones.
TRADE SIGNAL: SELL
👉ENTRY PRICE: 183.00
✅TAKE PROFIT: 181.50
❌STOP LOSS: 183.50
TRADE PLAN: Considering the current fundamentals and technical setup, initiating a SELL trade around the 183.00 mark offers a promising risk-to-reward ratio. Monitor the trade closely, especially during the key data releases and central bank meetings this week, which could cause significant volatility.
FINAL THOUGHTS: This trade suggestion leans towards a bearish outlook for GBP/JPY in the short term. It’s crucial to stay updated on any new developments from the BoE and BoJ meetings, as these could shift market sentiments swiftly. Always practice proper risk management.
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY: focus on the UK GDP releaseThe BoE has actually adopted a more cautious stance recently, as is clear from Governor Andrew Bailey's statement that the central bank is approaching the peak of its interest rate hike cycle. Despite persistent inflationary pressures, the BoE faces a delicate balancing act, as being too aggressive with interest rate hikes could endanger the UK economy.
SELL GBPJPY zone 184.400 - 184.500
Stoploss: 184.850
Take Profit: 183.700 (backtest breakout)
Take Profit: 183.000 (support zone)
GBPJPY BUYS in playGBPJPY BUYS in play.
1. Potential Bullish Trend.
2. GBP is strong meanwhile JPY is weak.
3. Short term sellers pressure.
We are looking to go Long on this pair, As the price is heading towards the support and resistance zone. We will look for confirmations on the lower time frames.
DeGRAM | GBPJPY breakout of the psychological levelGBPJPY is trading in the descending channel. The market broke and closed below the psychological level at 184.000.
Price action is printing the AB=CD, and it creating the engulding candle, indicating bearish dominance.
We expect a retest of the support level.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis
DeGRAM | GBPJPY possible bearish moveGBPJPY is trading in the descending channel.
The market rejected the support level, and it's pulling back to resistance.
On D chart, the market is consolidating.
If the price makes a false break at the confluence level, it might go further down.
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Share your opinion in the comments and support the idea with like. Thanks for your support!
GBPJPY Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
GBPJPY: GBP/JPY trades with negative bias near weekly low, manages to hold above 184.00 mark
The GBP/JPY pair is experiencing a slight downward trend for the second consecutive day on Friday and remains near the lower end of its weekly range during the Asian session. However, spot prices are able to stay above the 184.00 level, which should make aggressive bearish traders cautious and prepare for any potential further decline in value.