The GBPJPY pair kept its stability since yesterday’s trading above 210.40 level, increasing the chances of gathering the required bullish momentum to motivate the suggested bullish trend, reminding you that the initial positive target is located near 211.70 level, and surpassing the moving average 55 will reinforce the chances of recording extra gains by its rally towards 212.15, to press on the previously broken bullish channel’s support that appears in the above image.

 

Facing new bearish pressure and reaching below the previously mentioned support will confirm its surrender to the bearish corrective bias dominance, which forces it to suffer extra losses by reaching 209,60 followed by 209.00.

 

The expected trading range for today is between 210.65 and 212.15

 

Trend forecast: Bullish