In just over a week, the Bank of England MPC are due to meet for a vote on setting interest rates. Forex Factory is currently forecasting a hold at 0.75% however, Trading Economics are predicting a rise to 1%. I am preparing to purchase GBP.
Economic Indicators are light up to the meeting so no barriers there.
Live Charts are showing the strength on GBP to be strong thus not a great time to enter right now.
Geo politically, Brexit is a huge dilemma and given traders indecision.
A perfect entry is the GBPJPY day support at 142.20
A good entry is the GBPJPY 4 hour low at 145.20