The GBPJPY pair attempted to recover some losses to notice its rally from 207.55 level, and formed some bullish corrective waves, to test the broken support at 209.15 level, to settle below it, confirming the negative scenario in the near and medium period trading.

 

The contradiction of the main indicators might push the price to provide sideways trading, but its negative stability below 209.15 will force it to provide new bearish trading, to reach near 207.60 to reach 50%Fibonacci corrective level at 207.05.

 

The expected trading range for today is between 207.00 and 209.00

 

Trend forecast: Bearish