The GBPJPY pair provided a new negative close below the resistance at 208.95, to force it to activate the attempts of gathering gains, to reach 207.35 this morning, facing negative pressures by stochastic exit from the overbought level confirms the importance of reaching extra support at 206.95.

 

The stability above the targeted support will reinforce the chances of forming positive attempts to target 208.10 level, reaching the mentioned main resistance, while the decline below this support and providing negative close will open the way for resuming the bearish corrective attack, which might target 206.30 and 205.80 level.

 

The expected trading range for today is between 206.95 and 208.20

 

Trend forecast: Bearish