Eyes on GBPUSD, GBPJPY with BOE monetary policy, bank rate tomorrow at 7pm. Observations: both pairs are down trend, parked at resistance. 3 charts.
GBPJPY printed a false trend line break signal on 31 March 2017 but immediately unbroke the next session. It’s trend is still falling. In addition, market sentiment changed in April. GBPJPY driver is now JPY, not GBP.
Article 50 for Brexit is coming 29 March 2017. Quick look at 3 GBP pairs, GBPJPY, GBPAUD and GBPSGD based on relative strength offers contrast for traders who plan to trade GBP outcome.
GBP pairs flash crashed this morning without apparent trigger. Several pairs set new high/low for the year. Some fear that brokers may not honour trades.
After the Brexit vote, GBPUSD heads for generational low below 1.45. GBPJPY performance must be a Guinness World Record somehow for the number of pips moved for a major cross.