GBP/JPY: another way to bet on the pound

GBP/JPY: another way to bet on the pound

2019-11-11 • Updated

Trade idea

SELL 139.20; TP 138.60; SL 139.40

The dire situation for the British pound continues. Although many of the negative things such as the likely resignation of Prime Minister Theresa May are probably already priced in, the uncertainty about the future should keep the sterling under pressure. The Japanese yen, on the contrary, may stay in demand as investors worry about trade tensions between the United States and China.

GBP/JPY is testing levels below the support of the last 4 trading days at 139.50. The previous attempt to break higher has failed. The focus in now at the 61.8% Fibo of the 2018-2019 advance at 138.60. The next Fibonacci level is at 135.70.

GBPJPY.png

Similar

NZD: Weak GDP Contracts NZD Growth
NZD: Weak GDP Contracts NZD Growth

The New Zealand Dollar (NZD) is under pressure due to concerns about the country's economic growth, exacerbated by bearish technical indicators and the US Dollar's strength. Recent data showing negative growth in New Zealand, with GDP contracting by 0.1% in Q4 2024, suggests a recession. Despite this, the Reserve Bank of New Zealand (RBNZ) has not ...

USD: FOMC Meeting Takes Centre Stage
USD: FOMC Meeting Takes Centre Stage

Today's FOMC meeting is the highlight of the week, and Antje Praefcke, FX Analyst at Commerzbank, discusses the USD outlook ahead of the announcement. Praefcke believes there's low risk of the Dollar declining post-meeting due to unlikely dovish surprises, especially after strong inflation readings. Instead, the Fed may emphasize...

Latest news

WTT: Currency Pairs To Trade In April
WTT: Currency Pairs To Trade In April

Hello again my friends, it’s time for another episode of “What to Trade,” this time, for the month of April. As usual, I present to you some of my most anticipated trade ideas for the month of April, according to my technical analysis style. I therefore encourage you to do your due diligence, as always, and manage your risks appropriately.

Deposit with your local payment systems

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera