GBPJPY moves slowly – Analysis – 13-10-2016

Despite the pair's stability within the negative range that depends on holding below 129.60 resistance, but we notice the slow negative trading until this moment, while in general, we will keep waiting to form strong negative attack to attempt to touch the waited target at 123.15 followed by extending trading towards the next target at 120.90.

We remind you that the bearish scenario continues due to the price stability within the bearish channel that appears on chart, besides the negative pressure provided by the moving average 55 by settling above the price.

Expected trading range for today is between 127.50 and 123.15

Expected trend for today: Bearish