The GBP/JPY currency pair remains in a consolidation phase, trading between the key levels of 189.00 support and 191.90 resistance.
As such, the outlook remains neutral until the price breaks through one of these levels. A drop below the support level of 189.00 would signal a shift to a bearish trend, with a potential target at 188.20. Conversely, a breakout above the resistance level of 191.90 could open the door to significant gains, with initial targets at 192.90 and 194.10.
Today’s anticipated trading range for GBP/JPY is between 189.20 on the support side and 191.30 on the resistance side.
Trend Forecast: Neutral
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