• Joseph Barreca

GBP/JPY Time To Shine?

Soon as I opened my charts this morning the first one that popped up was the GBP/JPY and the very first thing I could see was the beautiful bullish pin bar in line of support. This got me excited.


Britain’s economic bounce-back from the coronavirus lockdowns cooled in June despite a surge in business for the country’s hospitality sector, according to a survey which echoed other signs that the recovery has lost some of its pace.

Lloyds analyst comments;

  • "The slowdown of output growth across the majority of sectors shows we are entering a new phase of the UK's recovery"

  • "We are less likely to experience the rapid month-on-month output growth we've typically seen when businesses have been able restart operations after successive lockdowns."

The Bank of England is due to announce its latest forecasts for the economy on Aug. 5. Some of its policymakers have said that risks to the recovery mean they should maintain their huge stimulus, while others have said the time for easing off on the programme is approaching.


Price has fallen into a major support level at 149.040 which is also supported by the 200 EMA. The close of the day printed a nice pinbar which usually indicates bullish momentum in the coming days. I'll be looking to position myself for a long back up into the 156.00 level.

Join a community of traders and trade side-by-side our mentors. When you become a member at GIT, you'll become part of a community of traders that all have the same goal as you. You'll have direct access to our mentors and access to all past and future webinars. We hold 5 Market Review webinars a week.

Included In this (Membership)

  • 5x Webinars each week

  • Exclusive network discord channel

  • Monthly accountability coaching calls

  • Hands-on career support

  • Trade signals (copy the pros)

  • Mid-Week technical report

  • Exclusive eBooks/media content

Join now:

Download our free trading journal:

57 views0 comments

Recent Posts

See All