GBP/JPY Jumps 1.18% After BoE Holds Interest Rates Steady

The Pound Sterling vs Yen (GBP/JPY) pair saw a significant gain of over 1% after the Bank of England decided to hold interest rates steady.

The decision initially weakened the British Pound, but it later bounced back, pushing GBP/JPY up by 1.18%. The current price is ¥210.63, with intraday volatility at 1.16%.

The technical structure of GBP/JPY remains bearish in the short term, despite a medium-term bullish trend. The pair trades below its key moving averages, indicating persistent downward pressure over various time horizons.