The GBPJPY pair recently experienced temporary downward movements, testing the support line of the main bullish channel around 204.15. However, it quickly resumed its bullish stance, surpassing the obstacle at 205.35 and settling near 205.70, indicating renewed positive action.
Currently, major indicators are showing positive momentum, enhancing the strength of the bullish trajectory. This reinforces our expectations for further gains, with potential targets extending towards 206.45 initially, followed by 208.00 as the next significant level.
Today’s expected trading range is projected between 205.00 and 206.45.
Trend Forecast: Bullish
Related topics: