The GBPJPY pair reached 211.20 level in its last negative moves, affected by the positivity of the main indicators, to notice forming a strong bullish trend to retest %50 Fibonacci correction level at 213.50 to settle below it.

 

The stability below 213.50 level will make the price renew the corrective attempts, gathering the negative momentum makes us expect reaching 212.35 initially, to repeat the attempts of breaking the barrier at 211.80, while its rally above 213.50 might provide a chance for attacking the main barrier at 214.50, which represents a key for detecting the main trend in the upcoming trading.

 

The expected trading range for today is between 212.30 and 213.50

 

Trend forecast: Bearish