The GBPJPY currency pair has initiated a resurgence of positive momentum, marked by consistent consolidation within a minor bullish channel. This trend has steered it away from the 183.50 support level and propelled it towards gains, culminating in an attainment of the 185.20 level.
A noteworthy development is the stochastic indicator, which has commenced providing positive momentum. This development is poised to facilitate the task of renewed pressure on the critical resistance barrier at 186.00. A successful breach of this obstacle is anticipated to pave the way for further upward movements, potentially commencing at 186.70 and extending to 187.55.
For the current trading session, the projected trading range is expected to span between the support level at 184.60 and the resistance level at 186.00.
In summary, the GBPJPY currency pair has renewed its positive trajectory, exemplified by its consolidation within a minor bullish channel. The emergence of positive stochastic momentum signals reinforces the outlook for renewed pressure on the 186.00 resistance level, with the potential for attaining subsequent bullish milestones at 186.70 and 187.55.