GBPJPY is trading weak ahead of BOE monetary policy report hearings. It hit an intraday low of 192.73 and is currently trading around 193.09.
The GBP/JPY pair is trading below 55 and 200 EMA (Short-term) and above 365 EMA (long-term on the 1-hour chart, confirming a bearish trend. Any violation below 192.70 indicates the intraday trend is weak. A dip to 192/191.70/191 /190 is possible. Immediate resistance is at 193.40, a breach above this level targets of 193.85/194.20/194.60/195/196.50/.
Market Indicators (1- hour)
CCI (50)- Bearish
Directional movement index - Bearish
Trading Strategy: Sell on rallies
It Is good to sell on rallies around 193.40-45 with SL around 194 for a TP of 191.


FxWirePro: USD/CNY neutral in the near-term, scope for downward resumption
FxWirePro: GBP/USD climbs above 1.34 after BoE's relatively hawkish cut
FxWirePro: EUR/NZD steadies ahead of ECB meeting
FxWirePro: AUD/USD bulls struggle to hold on US CPI induced gains
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro: USD/ZAR bears maintain upper hand
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/AUD dive post-CPI short-lived as traders prepare for BoE decision
FxWirePro: USD/JPY catches bid ahead of BoJ meeting
FxWirePro: AUD/USD struggle to extend its recovery,good to sell on rally
NZDJPY: Sell the Rallies as Bears Guard 90–91 Resistance Zone
AUD/JPY Stalls Ahead of BOJ Decision: Sell on Rallies as Bearish Bias Holds Below 103.70
FxWirePro: USD/CAD downtrend slows, but bearish sentiment remains
FxWirePro- Woodies Pivot(Major)
NZDJPY Whipsaws After BoJ Hike: Buy-the-Dip Setup Above 89 With Eyes on 92
FxWirePro:GBP/NZD recovers ground after early dip, bias bullish 



