GBP - Strong Bearish 1️⃣ The Bank of England kept its interest rates unchanged in its November meeting, compared to market expectations for a 15 basis point hike. 2️⃣ Brexit concerns resurfaced when there was a threat that UK Brexit negotiator David Frost might trigger Article 16 (Northern Ireland Protocol). 3️⃣ UK GDP is expected to shrink in the third quarter following the decline in retail sales and trade balance during the period.
JPY - Strong Bullish 1️⃣ The JPY is still benefiting after some central banks issued dovish tones about their interest rate hikes, especially when the Bank Of England decided to keep its rates.
===== Technical =====
We are looking to sell the GBPJPY on SBR levels.
===== Risk to this trade =====
Any change in sentiment could turn the pair's direction.
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