The GBPJPY pair is under strong bearish trading in Friday’s trading, suffering extra losses by its approach from the extra support at 200.45, forming quick bullish rebound, reaching 203.15 level, announcing its attempt to regain the bullish bias.

 

Note that the stability of the trading above 201.70 level is important to increase the chances of renewing the bullish attempts, repeating the pressure on 203.10 obstacle, and surpassing it will make it achieve extra gains by its rally towards 203.95, while the price return to settle below 201.70 will force it to form new bearish waves, waiting for attacking 200.45 level again.

 

The expected trading range for today is between 201.70 and 203.00

 

Trend forecast: Bullish