GBPJPY without any change – Analysis – 15-12-2017

No news for the GBPJPY pair that faces additional negative pressures by stochastic approach to 20 level, to confirm postponing the waited bullish rally, assuring the importance of monitoring the price behavior in case touching the initial support at 150.00, as it is important to detect the expected trend for the near term and medium term period.

We should note that the stability of the initial support will allow the price to renew the bullish attempts to attempt to push on 152.85 barrier and reinforce the domination of the bullish bias for the upcoming trading, while getting negative close below the current support will force the price to suffer more losses and target 38.2% Fibonacci correction level at 148.25.

Expected trading range for today is between 150.00 and 152.85

Expected trend for today: Bullish