Forex traders are currently focusing on shorting the GBPJPY pair as Gold prices have fallen to a key support level. In addition, all eyes are on the upcoming Non-Farm Payrolls (NFPs) report as it will greatly influence the Federal Reserve’s monetary policy decisions.
In a recent video, analysts discussed the potential for shorting the GBPJPY pair as it is showing signs of weakness. Meanwhile, Gold prices have dropped to a support level, prompting traders to monitor the precious metal for potential trading opportunities.
The upcoming NFPs report is expected to have a significant impact on the Federal Reserve’s decision-making process. The report will provide insights into the state of the US labor market and could influence the Fed’s stance on interest rates and monetary policy.
Overall, traders are closely monitoring these developments in the forex and commodities markets as they look for opportunities to profit from potential price movements. Stay tuned for more updates on these market developments.