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BUY NOW GBP/JPY

The GBP was the strongest major currency during Asian trading, but lost some gains against its peers in early European trading. Sterling benefited from expectations that the Bank of England will seek to tighten monetary policy, as well as renewed Brexit optimism. According to several news agencies, the EU will propose to remove up to 50% of customs controls on British goods at the border between Ireland and the UK (Northern Ireland). Further positive news on this matter could further support the GBP and are relatively likely. Meanwhile, GDP data from the UK showed that the economy grew by 0.4% on a monthly basis in August, compared to analysts' estimates of 0.5%, after contracting by 0.1% in July. However, both industrial production and manufacturing output rose more than expected. Overall, the data is solid, but the GBP probably won't be able to benefit much from it, as most of the problems were related to the energy crisis in September. I see a bit more upside for the GBP. We are trading against the safe-haven JPY, which is facing more headwinds after very positive export data from China. The main focus of Forex traders will be on the US inflation data, which will be released during the day. I expect a high inflation which would support the USD (and weigh on the JPY, CHF, due to more demand for the USD).

Try to get in as LOW as possible.

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(non-delayed signals in VIP group).


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