The GBPJPY pair continued providing negative trading, affected by forming extra barrier at 208.10 level, with the negative momentum that comes from stochastic below 50 level, attacking the support at 206.90 that formed the suggested target in the previous report.

 

The effect of the temporary sideways bias dominance, however facing the negative pressures that might push it to resume the corrective decline, to target 206.25 and 205.80 level, while renewing the bullish attempts requires forming strong bullish attack, to settle above 208.10 then begin targeting new positive stations by its rally towards 209.15.

 

The expected trading range for today is between 206.25 and 207.65

 

Trend forecast: Bearish