The GBPJPY pair formed more of the mixed sideways trading, due to its negative stability below the barrier at 200.40, announcing delaying the bullish attack in the current period, which increases the chances for activating the bearish correctional track, to expect attacking the support at 197.85, while breaking it will force it to suffer extra losses that might extend towards 197.20 reaching the next support at 197.85 and breaking it will force it to suffer extra losses that might extend to 197.20 reaching the next support at 196.20.

 

While the price success by breaching the barrier and holding above it will open the way for renewing the bullish attempts, to ease the way for achieving extra gains that might extend to 200.90 reaching 161.8%Fibonacci extension level at 202.45.

 

The expected trading range for today is between 197.85 and 199.80

 

Trend forecast: Bearish