The GBPJPY pair ended the bullish attempts by providing repeated negative closes below 215.50 level, forcing it to activate the bearish corrective track, suffering several losses by reaching 213.40 level.

 

We expect renewing the bearish attempts by its stability below the extra barrier at 214.55, and the continuation of providing negative momentum by stochastic will increase the chances of forming bearish waves, to target 212.80 and 212.00 level.

 

The expected trading range for today is between 212.80 and 214.25

 

Trend forecast: Bearish