GBPJPY Chart Technical Outlook corrects lower in what can be a three-wave ABC structure. GBP is under pressure due to the latest UK soft Inflation data.
Since the pair correlates positively with stock, a risk-off sentiment would help it to trade lower. Yesterday’s weak earning reports might trigger risk aversion today.
The calendar event to watch today is the US Unemployment Claims. This should trigger risk aversion cash flow if it shows less-than-expected unemployed people like the last print.
