The GBPJPY pair provided more negative attempts on Friday’s trading, but the contradiction between the main indicators pushed it to delay the negative attack, by its rebound above 186.50 level that represents a new obstacle against the negative attempts, which pushes it to form a sideways fluctuation by its stability near 187.50.

 

Reminding you that the bearish scenario remain valid, depending on the stability of the resistance at 189.75, besides 38.2% Fibonacci correction level’s attempt to settle at 188.00 as an extra barrier, therefore, we will keep waiting for gathering the negative momentum again, to ease the mission of renewing the pressure on 186.50, as breaking it will open the way towards reaching the extra negative stations, which might begin at 186.60 and 184.40.

 

The expected trading range for today is between 186.50 and 188.40

 

Trend forecast: Bearish