The GBPJPY pair succeeded in breaking the bullish channel’s support that is represented by 213.45 level, activating the previously suggested bearish corrective track, recording all the waited targets by reaching 211.60 level, attempting to recover some of the losses by its rally towards 212.85, attempting to retest the extra barrier that appears in the above image.

 

Confirming the bearish scenario requires providing new bearish close below 212.85, to ease the mission of targeting 212.00 level and surpassing it might extend the losses towards 211.25 and 210.45, while regaining the bullish trend requires forming strong bullish moves to settle above 214.15 level.

 

The expected trading range for today is between 211.25 and 213.00

 

Trend forecast: Bearish