The GBPJPY pair lost positive momentum, forcing it to provide mixed trading as we expected previously to reach 211.05. The current negativity is caused by stochastic exit from the oversold levels, but it will not affect the bullish trend, depending on forming additional support at 210.60 against the current trading.

 

We expect forming mixed trading to confirm the importance of gathering positive momentum, which allows it to renew the bullish attempts by its rally towards 211.75 and 212.10, while reaching below the previously mentioned support and providing a negative close will force it to suffer several losses that might begin at 210.00 and 209.60.

 

The expected trading range for today is between 210.70 and 212.10

 

Trend forecast: Fluctuating within the bullish trend.