The GBPJPY pair ended the bullish corrective rebound by providing a new negative close below 210.45 barrier, forming a sharp decline by targeting 207.60, repeating the sideways fluctuation by its stability above 208.10 level, which represents a confirmation key for the near trading.

 

The contradiction of the main indicators might push the price to provide unstable sideways trading, while its move below 208.10 and providing a negative close will increase the chances of resuming the bearish trend, to expect reaching 206.80, and surpassing this barrier will extend the trading towards 206.25 and 205.65.

 

The expected trading range for today is between 208.10 and 209.45

 

Trend forecast: Fluctuating within the bearish trend