The GBPJPY pair activated with stochastic positivity since yesterday, forming some bullish corrective waves to recover some losses to reach 209.45, noting that the stability below 210.40 barrier confirms the continuation of the negativity in the upcoming trading, which makes us wait for gathering negative momentum, to begin targeting negative stations by reaching 208.10 followed by 206.85.

 

While breaching the previously mentioned barrier and holding above it will reinforce the chances of building a new bullish trend, expecting 211.50 and 212.10 level initially.

 

The expected trading range for today is between 208.10 and 210.00

 

Trend forecast: Bearish