Our long GBPJPY idea flows from two legs. A bullish view on GBPUSD purely on account of strong economic indicators such as retail sales, high real income, strong employment nos, strong GDP nos as well as the next rate cut possible only in BOE’s Nov’24 meeting. A bearish view on USDJPY purely on account of no hikes expected from BOJ till it’s December meeting, a relatively soft landing of US economy as well as resumption of carry trades.
