The GBPJPY pair faced strong negative pressures yesterday to notice crawling below 191.90 level and suffering some losses by touching 191.15 level, while the current positive rebound won’t allow the price to regain the bullish track due to the MA55 consolidation near 50% Fibonacci correction level at 194.10, to confirm confining trades within the negative track for the near-term trades.

 

Also, stochastic crawl below 50 level will increase the negative pressures to expect suffering additional losses by crawling towards 190.60 followed by reaching the next support at 189.50.

 

The expected trading range for today is between 190.60 and 192.60

 

Trend forecast: Bearish