The GBPJPY pair forced to provide more sideways trading after facing a strong obstacle at 207.20, delaying the negative trend and its stability near 208.10 level, reminding you that the negative scenario will remain valid, depending on the stability of the barrier at 210.40, also providing negative momentum by the main indicators will increase the chances of attacking the current obstacle, and surpassing it will make the price target new bearish stations that might begin at 206.70 and 205.85.

 

The failure of breaking the obstacle and holding above it will confirm the dominance of the sideways trend, to expect forming mixed instable trading with a chance to recover some of the losses by its rally towards 209.60.

 

The expected trading range for today is between 206.70 and 208.45

 

Trend forecast: Bearish