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Yentervention ahead, GBP/USD and EUR/GBP range play

“BoJ Intervention likely” says Steven Woodcock, Senior Analyst at Plutus FX, as we look at the technical outlook for GBP/USD, EUR/GBP, EUR/USD and USD/JPY in today’s Forex Forecast video, joined by Zak Mir, Technical Analyst at ZaksTradersCafe.

Key Quotes

GBP/USD – Trading extremely heavy and the rallies are getting shallower. Buy the range floor, sell the range top as GBP remains a range trade.

EUR/GBP – Party for bulls. 0.8120 – 0.8040 is the current small range – a range trade, but still looking bid. GBP will be under pressure as we head into the Brexit vote.

EUR/USD – pushed around by the dollar

USD/JPY – BoJ intervention likely. BoJ will pick a level to intervene. 108.25 likely to offer some support.

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