GBPJPY

GBPJPY

SHORT position at 204.70

STOP LOSS above 205.70 (-100 pips).

THE TARGETS are 204.00 / 203.50

GBPJPY . GBPUSD

GBP JPY is in an uptrend supported by 1H exponential moving averages. GBP JPY is in a consolidation after the last bullish movement. The volatility is low. Bollinger bands are flat. ForexTrend 4H is in a bullish configuration. The price should find a resistance below 208.60. The consolidation should continue. If the resistance is broken then the target will be 212.00.

GBP USD is in a consolidation after the last bullish movement. GBP USD moves without trend and swings around exponential moving averages (EMA 50 and 100). The volatility is low. Bollinger bands are flat. ForexTrend 1H is in a bullish configuration. The price should continue to move in 1.9680 / 2.0000 range.

THE FOREX MARKET THIS WEEK

The week ahead offers a barrage of economic news for currency traders to digest, with the key highlights coming from the US. Markets will focus closely on the FOMC monetary policy decision on Wednesday afternoon. We expect the Fed to ease policy by 25-basis points to 2.0%, and maintain a downbeat outlook on the economy similar to its previous statement. Nonetheless, we anticipate the Fed to leave policy unchanged for the remainder of the year after this week＊s rate cut given the aggressive easing that has already materialized.

In addition to the highly anticipated US jobs report on Friday, the calendar also consists of April consumer confidence, US Q1 advanced GDP, PCE, Chicago PMI, March consumption, personal income, durable goods orders, and factory orders. The April unemployment rate is expected to hold steady at 5.2%, while non-farm payrolls are not expected to improve, posting another 80k loss of jobs. The Q1 advanced reading for GDP is seen slowing to 0.2% from 0.6% previously, the PCE index is expected to ease to 3.7% from 3.9% in the previous quarter.

The greenback rallied to its highest levels in two-weeks against the yen at 104.79 and euro at 1.5590. While it remains to be seen whether the recent dollar rebound will be sustainable, Eurozone officials have become more outspoken about their unease over the euro＊s strength. ECB President Trichet said ※there have been at times sharp fluctuations between major currencies§ and expressed concern about the ※possible implications on economic and financial stability.

GBPUSD & GBPJPY

GBP USD is in a consolidation after the last bearish movement. The price should find a support above 1.9770. If the support is broken then the target will be 1.9600.

GBP JPY is in a range between 203.60 and 206.20 The price should continue to move in Bollinger bands. If the support is broken then the target will be 202.50.

GBPJPY

GBPJPY

SHORT position at 204.00

STOP LOSS above 205.00 (-100 pips).

THE TARGETS are 203.60 / 203.24

OP, SL & TP at your own risks