– Buys on close above 162.840 targeting 1h Strong Resistance formed at 163.370 leaving Runners to 4h Resistance at 163.740.
– Sells on close below 162.200 on the break of the previous Daily candle low targeting 1h Support at 161.720 leaving Runners to 30min Support / Monthly Flipping Bearish at 161.430
– We have a High Impact News Day ahead for both Pound Sterling and the Japenese Yen for Bank Rate decisions, Bank Of Japan is set to keep Rates the same at -0.10% despite the currency being at the 24-year low since 1998, At Pre New York Session open we have MPC Official Bank Rate Votes, Monetary policy Summary and the Official Bank Rate for the Pound Sterling forecasting an increase in the rates to 2.25% from 1.75% (Current), it will be interesting to see what Governor Andrew Bailey has to say about Inflation as Inflation for last month (August 2022) dropped to 9.9% from 10.1% in July, the first drop since the beginning of rate hikes within the last 13months (October 2021).