The GBPJPY pair’s neediness to the bullish momentum led it to form more bearish corrective waves, to notice its stability near the moving average 55 at 217.35, note that this rebound will not affect the main bullish scenario, which depends on the stability of the support level at 216.35, the stability above it confirms the continuation of the positivity, which might target the barrier at 218.65 and surpassing it will extend the trading towards 219.40 and 220.00.

 

While breaking the support and holding below it for four hours’ time frame will cancel the bullish trend, to force the price to form strong bearish waves, forcing it to suffer several losses by reaching 215.45 initially.

 

The expected trading range for today is between 216.85 and 218.65

 

Trend forecast: Bullish