The GBP/JPY pair has successfully exceeded the MA55, advancing toward the 50% Fibonacci correction level at 194.20, which was identified as a key target. This morning’s trading has exhibited strong positivity, bringing the pair closer to the next target at 196.40.
The 192.00 level is now established as significant support for the bullish trend. The ongoing positive momentum indicated by major indicators is expected to facilitate surpassing the 196.10 level, allowing for potential targets at 196.80 and 197.53.
The expected trading range for today is between a support level of 194.20 and a resistance level of 196.40.
Trend Forecast: Bullish
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