The GBPJPY pair formed more bullish waves, reaching 2.00%Fibonacci extension level at 205.25, achieving the suggested initial target, to form sideways trading due to its neediness to the positive momentum.

 

We recommend waiting to achieve the current obstacle and providing positive close above it, to reinforce the chances of recording new gains by its rally towards 205.70 reaching the next main target in the medium period near 206.90, while the breach failure will force it to provide mixed trading, and there is a chance to decline towards 203.70.

 

The expected trading range for today is between 204.45 and 205.70

 

Trend forecast: Bullish