The GBPJPY pair encountered fresh negative pressure yesterday, which pushed it below the key 190.65 support level, leading to further losses and a drop to 188.48.
The continued stability below the broken support line is expected to enhance the bearish momentum, with potential targets at 187.90 and 186.55. However, if the price rebounds and settles back above the broken support, a correctional bullish trend may unfold, aiming to reduce the losses and test resistance levels at 191.40 and 192.65.
The expected trading range for today is between 188.00 support and 190.65 resistance.
Trend Forecast: Bearish
Related topics: