These threerncurrency pairs GBP/USD, USD/JPY, and NZD/USD are part of the 7 major currencyrnpairs in the forex trade sector. Let's take a look at their variousrnperformances over the past week.

• GBP/USD will continue to trend around the same price marks
• Governor UEFA implies no change in policy
• Rate hikes are expected the June from ECB and BOE
• NZD still struggles to stay afloat

GBP/USD

Bid / Ask:rn1.2462 / 1.2464

Day'srnRange:  1.2395 - 1.2465

52 wkrnRange:  1.0384 - 1.268

Prev. Close:rn1.2424

Open:  1.2424

Uponrnanalysis, the weekly chart indicates the long-term bullish trend getting to itsrnpeak.  The forex pair is about to hit thern1.2700 price mark. For the trend to continue being bullish, a catalyst isrnneeded to plunge prices higher above the resistance level. The probability ofrnthat happening this week is low. The Federal government will come up withrnpolicies to aggressively stop the price from climbing higher. This is seen inrnthe loftiness surrounding inflation and interest rates. Despite the high inflationrnexpected this June, this whole scenario is to stop further pricernincreases.  The market sector isrnaggressive when it comes to the prediction rate hike of the Bank of England,rnwith them presently pricing additional 90 basis points worth of hikes, this willrnmatch the Fed.

Analysis shows that string state expectations seem tornbe in favor of GBP, however, a catalyst is needed to propel GBP/USD higher. Inrnthe absence of a catalyst, GBP/USD will continue to trend around the same pricernmarks. 

Major Events Ahead

 This week hadrnless activity, therefore low market volatility is expected. The Bank of Englandrnwill release some sensitive news about inflation next week.  This week has traders trading cautiouslyrnwhile they await the release of the data.

USD/JPY

Bid / Ask:rn139.34 / 139.35

Day's Range:rn139.12 - 139.69

52 wk Range:rn127.22 - 151.96

Prev. Close:rn139.64

Open: 139.64

With thernarrival of Governor Uefa,  traders havernbeen expecting a new policy. However, the governor has noted that there is nornswift plan put in motion for the change in policies. This has given thernJapanese Yen a steady run in the market sector. Pending when traders get arnmessage from the Bank of Japan (BoJ), JPY is currently intriguing andrnsurprising traders. 

This Morning,rnthe governor said that QQE is going to continue until the inflation target isrnmet. The inflation expectation is low because of the prolonged zero deflationrnand inflation. The currency's recent rebound is shocking,  however, the Japanese Finance Ministerrnand  Governor Ueda dropped a statementrnlast week, implying that intervention will occur as regards the currency andrnexchange rate. 

After USD/JPYrnincreased to 150.00 in October 2022, the BoJ stepped in and intervened.  Some traders speculate that this is thernreason why JPY is resilient, while some speculate that the markets are stillrnhopeful for a policy change, however, these speculations can not be confirmed.

Rates hikesrnare expected this June from ECB and BoE, the Yen will be affected,  and traders look forward to the newrnpressure. 

 As wernapproach Q3, the weeks to come look climatic for the Japanese Yen.  

NZD/USD

Prev. Close:rn0.6078

Bid: 0.608

Day'srnRange:  0.6058-0.609

Open:  0.6078

Ask:  0.6081

52 wkrnRange:  0.5512-0.6539

1-YearrnChange:  -6.36%

Before thernsurprising hike by the Reverse Bank of Australia, NZD/USD was range trading.rnNZD/USD is currently trading steadily at 0.6075.

Last week,rnThe New Zealand (NZ) dollar performed purely compared to its counterparts.rnHowever, the currency seems to be hitting a support zone soon, this meansrntraders should be more cautious,  as therntrade can turn into a bearish reversal. 

During thernLondon session, the pair plunged to 0.6070. NZD/USD is predicted to be unstablerneven in the absence of any critical catalyst. 

Despite therntrading street being crossed about the interest rate policy by the FederalrnReserve (Fed) for June's summit, the US Dollar index has prolonged its solidrnrebound to 104.20. The trading street is crossed between a struggling economyrnand the slow addition of employees in the labour market.

NZD stillrnstruggles to stay afloat. This is because the Reserve Bank of New Zealandrn(RBNZ) predicted the likely increase in rates despite having raised itsrnbenchmark rate by 25 basis points to 5.5% in May. Also, the recent aggressivernrevaluing of Fed rate expectations and the China data release which was lowerrnthan expected, has impacted the currency negatively.