The GBP/JPY currency pair has sustained a downward trajectory, extending its losses and surpassing the initial target of 185.10. This trend indicates the potential for further declines.
The 186.40 level is now viewed as a key resistance point. Should the major indicators continue to signal negative momentum, the pair may target additional lower levels, potentially reaching 183.70 and the 50% Fibonacci retracement level around 182.95.
The expected trading range for today is between 183.70 and 185.60.
Trend Forecast: Bearish
Related topics: