Part 1 — Previous Session Review

Yesterday was a poor session from a performance standpoint. We took 5 trades across EURGBP, AUDCHF, CADCHF, EURUSD, and NZDCAD, finishing with 1 winner and 4 losers for a net result of -54.8 pips.

The main takeaway is not to over-explain the loss. The tape was choppy across several FX crosses, and follow-through was limited after entries. When the market is not rewarding clean continuation, the priority is to reduce damage, avoid revenge sizing, and wait for higher-quality liquidity conditions.

From a risk perspective, the drawdown was contained but meaningful enough to justify a more selective approach today. We are not looking to force recovery trades ahead of major central bank risk.

Part 2 — Today’s Outlook & Watchlist

The calendar is heavy, with the Bank of England decision at 07:00 UTC and the Bank of Japan rate decision and statement at 22:30 UTC. Both events can change short-term pricing quickly, especially if the vote split or policy language differs from market expectations.

GBPUSD is the first asset on the watchlist. The key is whether the Bank of England confirms a steady policy path or signals growing concern about inflation and growth. A surprise in the vote split could trigger a fast repricing in sterling, so we prefer to wait for the first reaction, then assess whether price accepts or rejects the move.

GBPJPY also deserves attention because it combines both risk events. This pair can move aggressively when UK rate expectations and yen policy headlines overlap. Spreads and slippage may widen around the releases, so entries should be planned only after volatility settles and structure becomes clearer.

Today is a session for patience. The best opportunities may come after the initial news spike, not during it. Our focus is clean levels, controlled position size, and avoiding trades where the stop has to be placed too wide to make the idea practical.