British Pound Forecast: GBP/USD, GBP/JPY
Looking ahead at the British Pound’s performance against the US Dollar (GBP/USD) and the Japanese Yen (GBP/JPY), there are a few key factors to consider.
For GBP/USD, the pair has been trading in a range between 1.30 and 1.35. The upcoming Brexit negotiations and economic data releases will likely have an impact on the Pound’s movement against the Dollar. Traders should keep an eye on any developments in the Brexit process as they could potentially cause volatility in the currency pair.
As for GBP/JPY, the pair has been trading within a range of 130 to 140. The Bank of England’s monetary policy decisions and any economic data releases out of Japan will be important factors to watch for in the coming weeks. Any shifts in monetary policy or economic outlook in either country could lead to movement in the GBP/JPY pair.
Overall, traders should stay informed on the latest news and economic data releases to better gauge the potential movement of the British Pound against both the US Dollar and the Japanese Yen. It is always recommended to use risk management strategies while trading in the forex market to protect against any unexpected volatility.