The GBPJPY pair continues to grapple with the persistent conflict between major indicators, despite remaining below the key resistance at 183.50. This situation is keeping the pair in a sideways trading pattern, with prices hovering near the 182.15 level, as clearly depicted on the chart.
Given these conditions, our view maintains a corrective bearish perspective, with potential targets at 181.10 in the near term, followed by a level around 179.80, where it will encounter the MA55. The path to renewed bullish attempts can only be unlocked by successfully breaching the 183.50 barrier and maintaining a position above it. Such a development could lead to further positive milestones starting from 184.40.
The anticipated trading range for today is anticipated to span from 182.70 (support) to 180.60 (resistance). As of now, the prevailing trend for the day appears to be bearish.