GBPJPY remains affected by the stability of the barrier near 210.40, prompting the pair to form some negative trades and currently target the 208.80 level. We note that the availability of negative momentum will increase the chances of soon attacking the additional support at 208.10, which, if broken, would push the pair to resume its bearish pressure, directly targeting 207.40 and then 206.80.

 

Meanwhile, failure to break below 208.10 would force the pair into mixed trading, with an opportunity to renew pressure on the barrier at 210.40, which in turn represents the key level for confirming the expected direction of trading in the near and medium term.

 

The expected trading range for today is between 208.10 and 210.00.

 

Trend forecast: Bearish