The GBPJPY pair still lacks the bullish momentum to continue postponing the positive attack and settles around the initial support around 151.50, expecting to continue fluctuating in the upcoming period with chances to suffer intraday losses by moving towards 150.00 until gathering the required momentum followed by resuming recording gains by rallying towards 152.85 followed by reaching the next positive target at 154.45.
The price consolidation within the bullish channel besides 38.2% Fibonacci correction forming strong barrier against the bearish correction attempts, these factors allow us to keep the bullish trend expectations in general.
Expected trading range for today is between 150.00 and 152.85
Expected trend for today: Bullish