GBPJPY Technical Analysis 05.07.2022 1h chart

– Previous Daily candle closed Bullish  forming minor Support at 163.700, Despite the Daily Support this pullback could be the retest of the broken Daily Support formed on 24.06.2022 to then retest the Lows and fill the previous Weekly Candle Low.
– Buys on close above 164.580 targeting 1h previous Support formed on (30.06.2022) at 165.020 leaving Runners to Daily previous Support formed on (24.06.2022) at 165.420.
– Sells on close below 163.980 targeting 4h Support at 163.320 leaving Runners to 30min Support at 162.940.
– We also have the Bank Of England Financial Stability Report assessing the condition in the financial system and potential risks to financial stability providing an insight into the future of Monetary Policy. FPC Meeting Minutes and FPC Statement.
– Bank Of England Governor Andrew Bailey is due to hold a press conference about the Financial Stability Report.