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BK GBP/JPY Big Trade +75
BK -- Close GBP/JPY at market (now 193.70) for +75 ahead of FOMC
BK -- First entry TRIGGERED
BK GBPJPY Big Trade Orders
We like the U.S. dollar and we like the British pound because the Federal Reserve and the Bank of England will be the first 2 central banks to raise interest rates (in that order). This morning’s MPC minutes were hawkish and reading between the lines, there’s a very good chance that at the next meeting, more than one member will vote to raise rates. The hawkish monetary policy biases of the Fed and BoE is positive for GBP/JPY and not only do we expect the pair to hit 196 but we believe the move could also extend to 200. UK retail sales are scheduled for release tomorrow and based on the rise in wages, stronger spending is expected and if we are right, that could take the currency pair above 194.00.
Place Order to Buy 1 Lot GBP/JPY at 192.95
Place Order to Buy 1 More at 190.85
Stop for ALL at 189.30