GBP/JPY Weekly Forecast – British Pound Gives Up Early Gains for the Week

GBP/JPY Weekly Forecast – British Pound Gives Up Early Gains for the Week

Source: EODHD - https://finance.yahoo.com/news/gbp-jpy-weekly-forecast-british-162610606.html
Published: Nov 17, 2023 11:26 AM

GBP/JPY Forecast Video for 20.11.23 British Pound vs Japanese Yen Weekly Technical Analysis The British pound has initially shot higher during the course of the week but gave back quite a bit of the gains as we continue to see a lot of volatility. With this being the case, the market looks as if it is going to find buyers on short-term dips, which is essentially what we are seeing on Friday after a selloff overnight. The market continues to see a lot of volatility, but I think at the same time, the interest rate differential will continue to be very influential in this pair, favoring the British pound as the Bank of Japan has such loose monetary policy. Underneath, I see the ¥185 level as a...

Market context: This update is relevant to GBP traders, with GBPJPY as the primary instrument to monitor for follow-through, trend continuation, or headline volatility.