The GBP/JPY currency pair continues to advance along its established bullish path, demonstrating no deviations from its upward trajectory. It has recently achieved a new positive close above the minor support level situated at 182.80 within the bullish channel. The pair’s latest gains have led it to reach 184.15, signaling the initiation of progress towards the initial suggested target.
It is worth noting that the presence of positive momentum in the stochastic indicator will further enhance the effectiveness of the pair’s bullish trajectory. Therefore, we anticipate the pair to persist in its bullish momentum, with the likelihood of reaching its imminent targets in the short and medium terms, ultimately aiming for 185.30 and 186.00.
For today, we expect the GBP/JPY pair to fluctuate within a trading range bounded by 183.70 and 185.00, maintaining its bullish trend.