Daily Technical Analysis: GBP/USD, USD/JPY

The GBP/USD is under pressure as markets anticipate further rate cuts from the Bank of England, while the Federal Reserve is expected to implement more aggressive cuts.

1. GBP/USD Analysis:
News Summary:
PMI data showed UK business growth slowed this month. price pressures are waning, which could prompt the Bank of England to consider another interest rate cut. Efforts to combat inflation are showing increasing signs of success as data suggest a soft landing for the UK economy, without an economic downturn from higher interest rates. Investment projects will be put on hold until the new government's policies, especially tax policies, are clear.

Trend Analysis:
We can see GBP/USD H4 level fluctuates upward and moves above the 48 hours moving average. However, the MACD double line and energy column has formed top divergence above the zero axis. The sell limit could be arranged, stop loss is compulsory.

Today's Key Price Levels:
Key Support Levels: [1.3260]
Key Resistance Levels: [1.3450]
Pivot Points [1.3400]

2. USD/JPY Analysis:

News Summary:
The failure of USD/JPY to fall significantly below 140.25, coupled with the Bank of Japan Governor’s cautious remarks, increases the possibility of a mean reversion rebound. The Bank of Japan kept its overnight policy rate unchanged at 0.25% as expected, and its monetary policy statement was also filled with tepid hawkish rhetoric. The statement said that inflation expectations have risen moderately, consumption is growing moderately, and Japan's economic growth is likely to achieve growth above potential levels.

Trend Analysis:
We can see USD/JPY rebounds again and runs above the 48 hours moving average on H4 chart. In addition, the MACD and double line and energy bar converges above the zero axis. The buy limit could be placed, stop loss is necessary.

Today's Key Price Levels:
Key Support Levels: [141.70]
Key Resistance Levels: [146.30]
Pivot Points [143.00]