The GBP/JPY currency pair recently concluded a bearish correctional rebound, testing the minor support level within its established bullish channel, specifically at 182.65. The pair managed to hold above this support level, thereby strengthening the dominance of the bullish scenario.
To further reinforce this bullish outlook, the GBP/JPY pair requires a fresh injection of positive momentum. This would facilitate the task of maintaining levels above the 183.50 mark and eventually targeting higher levels of resistance, with initial targets situated at 184.30 and extending to 185.20.
For today’s trading session, market analysts anticipate the GBP/JPY pair to move within a trading range defined by the support level at 182.75 and the resistance level at 184.30. The prevailing trend for today is bullish, and traders are closely monitoring these key levels for potential trading opportunities.