GBPJPY FOREX 1H TIME FRAME DATE 7/28/2024

Sentiment Analysis – July 27, 2024

Intra-Day Sentiment: 33% Bearish, 67% Bullish
Daily Sentiment: 18% Bearish, 82% Bullish
Overall Sentiment: Favorable to Buy
Economic Calendar and Trading Recommendations

Monday, July 29, 2024

10:30 AM (GB): Mortgage Approvals
Forecast: 63.50 Thousand
Trade Recommendation: Sell GBPJPY
12:00 PM (GB): CBI Distributive Trades
Retail Sales MoM Forecast: 0.40%
Trade Recommendation: Sell GBPJPY
Tuesday, July 30, 2024

01:30 AM (JP): Unemployment Rate
Forecast: 2.70%
Trade Recommendation: Sell GBPJPY
Wednesday, July 31, 2024

01:50 AM (JP): Retail Sales YoY
Forecast: 1.50%
Trade Recommendation: Sell GBPJPY
06:00 AM (JP): BoJ Interest Rate Decision
Forecast: 0.25%
Trade Recommendation: Buy GBPJPY
07:00 AM (JP): Consumer Confidence
Forecast: 35.00 points
Trade Recommendation: Sell GBPJPY
Thursday, August 01, 2024

02:30 AM (JP): Jibun Bank Manufacturing PMI
Forecast: 51.50 points
Trade Recommendation: Buy GBPJPY
08:00 AM (GB): Nationwide Housing Prices MoM
Previous: +0.4%, Forecast: 0.1% decline
Trade Recommendation: Buy GBPJPY
10:30 AM (GB): S&P Global Manufacturing PMI Final
Forecast: 51.90 points
Trade Recommendation: Buy GBPJPY
01:00 PM (GB): BoE Interest Rate Decision
Forecast: 5.00%
Trade Recommendation: Buy GBPJPY
Summary:
Despite short-term bearish signals and mixed economic indicators, the prevailing sentiment and key economic releases indicate a bullish outlook for GBPJPY. The primary trading strategy should emphasize buying GBPJPY, supported by favorable macroeconomic data and sentiment.