Fundamental
In weekly TF GJ is showing bull run, meaning
Fundamentally Pound Starling is getting weak against the Japanese Yen and USD as well.
With the covid pandemic, Brexit, and interest rate hike ( both in US & UK) everything is not going well for the BOE,
So fight against inflation and export-import trade balance, the BOE will be the main SMART-MONEY incoming days.
Technical
In daily, 8H, or even 4H chart GJ formed an inverted H&S which support the fundamental.
I'll not be very surprised to see GJ in the 163.86 range very soon, or more
Political
Economists are forecasted that oil price is going too high soon may fuel up inflation more and BJ is scared about the economic condition so by covering economic conditions by he is diverting media coverage somewhere else.
In weekly TF GJ is showing bull run, meaning
Fundamentally Pound Starling is getting weak against the Japanese Yen and USD as well.
With the covid pandemic, Brexit, and interest rate hike ( both in US & UK) everything is not going well for the BOE,
So fight against inflation and export-import trade balance, the BOE will be the main SMART-MONEY incoming days.
Technical
In daily, 8H, or even 4H chart GJ formed an inverted H&S which support the fundamental.
I'll not be very surprised to see GJ in the 163.86 range very soon, or more
Political
Economists are forecasted that oil price is going too high soon may fuel up inflation more and BJ is scared about the economic condition so by covering economic conditions by he is diverting media coverage somewhere else.