The GBPJPY pair failed to confirm breaking 212.85 level, which forces it to delay the previously suggested negative scenario, forming bullish waves to test the broken bullish channel’s support at 214.40 in this morning’s trading, forming a new bearish decline to settle near 213.40.

 

The contradiction between the main indicators might push the price to provide temporary trading, to keep waiting to confirm the negative scenario by reaching below 212.85, opening the way for targeting negative stations at 212.00 and 211.25, while breaching 214.40 and holding above it will confirm regaining the bullish track, providing strong chances to record new gains by its rally towards 215.50.

 

The expected trading range for today is between 211.25 and 213.85

 

Trend forecast: Sideways