Instrument: GBPJPY
Bullish Preference:
A buy position is envisaged if the price trades above 182.352 with take profit at 182.819.
Bearish Preference:
A sell position is envisaged if the price trades below 181.353 with take profit at 180.793.
Fundamentals:
4:00pm GBP BOE Gov Bailey Speaks
Comment:
The pound retreated on Monday but remained in sight of last week’s 15-month highs against the dollar, with investors becoming more convinced the Bank of England will take a tough line on inflation by raising rates a lot more than expected. The main data point for UK markets this week are wage growth figures on Tuesday, while investors will also be looking out for remarks from both Bank of England Governor Andrew Bailey and finance minister Jeremy Hunt, who will address the City of London’s financial elite at an annual dinner later on Monday.
Analysis: SCRUM Team