Fundamentals:
1. The BOE recently announced that they are keeping interest rates unchanged at 5.25% as expected , and this is perceived as good news for the GBP currency.
2. There are news report citing BOJ's little need to end negative rates policy. There are also dovish comments by BOJ's officials, thus the Yen might see a further dump downwards.
Technicals
1. GJ found support at $180ish
- Phycological Level
-6 months Uptrend line
-Daily chart Demand zone
2. A liquidity sweep pattern followed by a push up in price, signalling buying pressure at the key level.
Trading Plan ( For myself)
1. Scale in 50% of the usual size i am trading.
2. Scale in the next 50% after price breaks out strongly and retest the 184.5 level.
3. Stop Loss 1x 4H ATR below 178.5
4. Targeting the previous high at 188 , followed by 2015's high at 195
1. The BOE recently announced that they are keeping interest rates unchanged at 5.25% as expected , and this is perceived as good news for the GBP currency.
2. There are news report citing BOJ's little need to end negative rates policy. There are also dovish comments by BOJ's officials, thus the Yen might see a further dump downwards.
Technicals
1. GJ found support at $180ish
- Phycological Level
-6 months Uptrend line
-Daily chart Demand zone
2. A liquidity sweep pattern followed by a push up in price, signalling buying pressure at the key level.
Trading Plan ( For myself)
1. Scale in 50% of the usual size i am trading.
2. Scale in the next 50% after price breaks out strongly and retest the 184.5 level.
3. Stop Loss 1x 4H ATR below 178.5
4. Targeting the previous high at 188 , followed by 2015's high at 195