Overall, GBP/JPY is trending upwards. Recently, GBP/JPY bounced off the resistance zone of 139.000.
The UK Final Services PMI data (Actual: 56.5, Forecast: 56.6, Previous: 56.6) released yesterday indicated a slight downward revision of the growth of the services sector in July.
The Bank of England (BoE) will be announcing their interest rate decision later at 1400 (SGT). It is likely that the central bank will keep monetary policy on status quo for the time being. The BoE will also be releasing an update on its growth and inflation projections. A press conference will be held at 1930 (SGT). During this time, there may be volatility in GBP.
The UK Construction PMI data (Forecast: 57.0, Previous: 55.3) will be released later at 1630 (SGT).
GBP/JPY’s next support zone is at 136.200 and the next resistance zone of 139.000.
If the BoE does not express any signs of dovishness, look for short-term buying opportunities of GBP/JPY up until the press conference at 1930 (SGT).
The UK Final Services PMI data (Actual: 56.5, Forecast: 56.6, Previous: 56.6) released yesterday indicated a slight downward revision of the growth of the services sector in July.
The Bank of England (BoE) will be announcing their interest rate decision later at 1400 (SGT). It is likely that the central bank will keep monetary policy on status quo for the time being. The BoE will also be releasing an update on its growth and inflation projections. A press conference will be held at 1930 (SGT). During this time, there may be volatility in GBP.
The UK Construction PMI data (Forecast: 57.0, Previous: 55.3) will be released later at 1630 (SGT).
GBP/JPY’s next support zone is at 136.200 and the next resistance zone of 139.000.
If the BoE does not express any signs of dovishness, look for short-term buying opportunities of GBP/JPY up until the press conference at 1930 (SGT).