The GBPJPY currency pair has recently lost its positive momentum, continuing its downward movement with consistent closes below the 193.30 resistance level. This has led to the formation of negative waves, with the pair now settling near the next support at 190.80.
Continuous negative pressures may force the price to break through this support, potentially extending losses toward the 190.20 level. A further decline could bring the 61.8% Fibonacci retracement level at 189.70 into play.
For today, the expected trading range is between 190.20 and 192.00.
Trend Forecast: Bearish
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