UK Manufacturing Still in Contraction; GBP/JPY Testing Upper End of Rising Channel

UK Manufacturing PMI remains below 50 threshold for 14th month amid weak demand
GBP/JPY trades in Rising Channel pattern; pullbacks seen as buying opportunities
Cross recovered from below 181 to over 182; aiming for 60-80 RSI range
Break above 183.50 could trigger rally to 185.75 and 186.77
Breakdown below 180.82 may drag cross down to 179.74 and 176.32 support levels

fxstreet.com

Relevant topic timeline:

9/19/2023

Sterling Slips as Traders Brace for BoE and BoJ Policy Decisions This Week

The GBP/JPY is falling back to the midrange after failing to maintain a bullish push, while investors wait for Japan trade balance figures and the Bank of England's rate call.