Technical Analysis
GBPJPY have big potential to sell around 205.37. This particular area have big resistance or rejection from the previous level higher time frame, it means lots of buyers took profit and sellers decided to involve in. Based on volume indicator the momentum for buyers is weakening.
Fundamental Analysis
The upgrades come after two years of stagnation, with the U.K. falling into a shallow recession in the second half of 2023. However, GDP growth in May came in above analyst expectations at 0.4%, while summer events including the Euro 2024 soccer championship and even Taylor Swift’s Eras Tour are expected to bolster economic activity.