GBPJPY surged to 211.98, approaching the main resistance barrier at 212.10, before quickly reversing toward 211.20, confirming its continued commitment to the main bearish trend.

 

The main indicators are aligned in supporting the bearish outlook, as the 55-period moving average remains near the main resistance barrier. This favors further downside attempts, potentially targeting 210.40 and 209.60. However, a successful breakout above the main resistance could trigger a strong bullish rally toward several positive targets, starting at 212.65 and extending to 213.25.

 

The expected trading range for today is between 210.40 and 212.00

 

Trend forecast: Bearish