BOE<\/a>) MAY be open to extending its bond-buying program beyond this week should economic conditions need it.<\/p>\n\n\n\nThen, the pound\u2019s rally received an extra boost during\u00a0London session\u00a0trading when the markets started pricing in a potential U-turn on PM Truss\u2019 mini budget plan.<\/p>\n\n\n\n
That\u2019s a lot of gains for a couple of unconfirmed rumors!<\/p>\n\n\n\n
In any case, GBP\/JPY was able to jump from its 159.70 weekly lows to trade closer to the 167.00 zone.167.00 looks pretty close to the 168.00 range resistance that we\u2019ve marked on the chart!<\/p>\n\n\n\n
Will GBP\u2019s party end with the range holding for another day?<\/p>\n\n\n\n
Stochastic\u00a0is on the bears\u2019 side with an overbought signal!<\/p>\n\n\n\n
It doesn\u2019t look like the oscillator has turned lower, though, so y\u2019all should be careful in placing bets without price action confirming your\u00a0biases.<\/p>\n\n\n\n
BOE will print its quarterly bulletin today but, unless we get updates about the central bank\u2019s bond-buying or the government\u2019s budget plan, it\u2019s likely that GBP\/JPY will trade on\u00a0market sentiment.<\/p>\n\n\n\n
Today\u2019s\u00a0U.S. retail sales report\u00a0at 12:30 pm GMT<\/strong>\u00a0could shake things up even for GBP\/JPY.<\/p>\n\n\n\nLook out for better-than-expected results, which could refuel concerns that the Fed will continue to raise interest rates aggressively.<\/p>\n\n\n\n
A bit of risk aversion or profit-taking may drag GBP\/JPY to its 164.00 mid-range levels or send it on its way back to its weekly lows.<\/p>\n\n\n\n
If the government does reverse its budget plans, however, or if BOE confirms its willingness to extend its bond-buying program, then GBP\/JPY may finally break above its months-long range.<\/p>\n","protected":false},"excerpt":{"rendered":"
GBP is having a good week against JPY! Will the party end at the top of a\u00a0technical range? Check out Guppy\u2019s 4-hour chart to see what I\u2019m talking about! GBP\/JPY: 4-hour GBP\/JPY 4-hour Forex Chart In case you missed it, GBP saw a redemption arc mid-week when word got around that the Bank of England […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10091"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=10091"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10091\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=10091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=10091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=10091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a><\/p>\n\n\n\nGBP\/JPY 4-hour Forex Chart<\/p>\n\n\n\nIn case you missed it, GBP saw a redemption arc mid-week when word got around that the Bank of England (BOE<\/a>) MAY be open to extending its bond-buying program beyond this week should economic conditions need it.<\/p>\n\n\n\nThen, the pound\u2019s rally received an extra boost during\u00a0London session\u00a0trading when the markets started pricing in a potential U-turn on PM Truss\u2019 mini budget plan.<\/p>\n\n\n\nThat\u2019s a lot of gains for a couple of unconfirmed rumors!<\/p>\n\n\n\nIn any case, GBP\/JPY was able to jump from its 159.70 weekly lows to trade closer to the 167.00 zone.167.00 looks pretty close to the 168.00 range resistance that we\u2019ve marked on the chart!<\/p>\n\n\n\nWill GBP\u2019s party end with the range holding for another day?<\/p>\n\n\n\nStochastic\u00a0is on the bears\u2019 side with an overbought signal!<\/p>\n\n\n\nIt doesn\u2019t look like the oscillator has turned lower, though, so y\u2019all should be careful in placing bets without price action confirming your\u00a0biases.<\/p>\n\n\n\nBOE will print its quarterly bulletin today but, unless we get updates about the central bank\u2019s bond-buying or the government\u2019s budget plan, it\u2019s likely that GBP\/JPY will trade on\u00a0market sentiment.<\/p>\n\n\n\nToday\u2019s\u00a0U.S. retail sales report\u00a0at 12:30 pm GMT<\/strong>\u00a0could shake things up even for GBP\/JPY.<\/p>\n\n\n\nLook out for better-than-expected results, which could refuel concerns that the Fed will continue to raise interest rates aggressively.<\/p>\n\n\n\nA bit of risk aversion or profit-taking may drag GBP\/JPY to its 164.00 mid-range levels or send it on its way back to its weekly lows.<\/p>\n\n\n\nIf the government does reverse its budget plans, however, or if BOE confirms its willingness to extend its bond-buying program, then GBP\/JPY may finally break above its months-long range.<\/p>\n","protected":false},"excerpt":{"rendered":"GBP is having a good week against JPY! Will the party end at the top of a\u00a0technical range? Check out Guppy\u2019s 4-hour chart to see what I\u2019m talking about! GBP\/JPY: 4-hour GBP\/JPY 4-hour Forex Chart In case you missed it, GBP saw a redemption arc mid-week when word got around that the Bank of England […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"_links":{"self":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10091"}],"collection":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/comments?post=10091"}],"version-history":[{"count":0,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/posts\/10091\/revisions"}],"wp:attachment":[{"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/media?parent=10091"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/categories?post=10091"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mudassirbackup.infinitycodestudio.com\/index.php\/wp-json\/wp\/v2\/tags?post=10091"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/bpcdn.co\/images\/2022\/10\/14024124\/GBPJPY.png\"){kind=link}