The GBP/JPY currency pair exhibited mixed trading yesterday, primarily due to a lack of positive momentum. After reaching a low of 190.15, the pair rebounded and settled above the additional support level at 191.80, currently recording at 192.15.
These developments indicate a potential resumption of bullish attempts, with expectations for gaining positive momentum shortly. The next target is the 55-day moving average (MA55) at 193.00, and a successful breach of this level could lead to a further target at the 50% Fibonacci correction level of 194.15.
Traders should anticipate today’s price range between 191.20 and 193.30.
Trend Forecast: Bullish
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