The GBPJPY pair repeated providing weak sideways trading by its stability near 208.45 level, affected by the continuation of forming an obstacle at 280.10 level against the attempts of resuming the bearish trend, noticing the attempt of stochastic to exit the oversold level, which reinforces the dominance of the sideways range bias in the current trading, with a chance to retest the initial barrier near 210.40.

 

Achieving the required break and holding below 208.10 level will confirm its readiness to target more negative stations by reaching 206.70 initially, followed by 205.85.

 

The expected trading range for today is between 208.10 and 209.45

 

Trend forecast: Fluctuating within the bearish trend