The GBPJPY pair succeeded to face the negative pressures by its rally above the critical support at 187.50, increasing the chances for its stability within the bullish channel’s levels and begin forming bullish waves, noticing its stability near 188.70.

 

Note that forming more of the bullish attempts is important to surpass the obstacle at 189.60 level, reinforcing the chances for recording extra gains that might extend towards 190.30 and 191.45, while the failure to breach the obstacle will force the price to provide mixed trading, we should confirm that monitoring the price is important in case declining to the critical support, to avoid any losses that might be caused by exiting the bullish track.

 

The expected trading range for today is between 187.90 and 190.30

 

Trend forecast: Bullish