The GBPJPY pair is under strong bearish pressure, which forces it to resume the bearish correctional attack, facing the support of the bullish channel’s support at 195.35, to settle above it to stop the negative bleeding in the current period, to rally towards 195.95.

 

Note that surpassing 196.45 level is important to confirm its readiness to renew the bullish attempts, to expect attacking the extra barrier at 197.45, while the continuation of the negative pressure and breaking the current support will force it to suffer new losses, to wait for reaching 194.20, then attempts to press on the EMA50 that is located near 193.55.

 

The expected trading range for today is between 195.55 and 197.45

 

Trend forecast: Bullish