GBPJPY still within the correctional range – Analysis – 11-10-2017

The GBPJPY pair attempted to gather new positive momentum, but the continuous consolidation below 50% Fibonacci correction level around 149.10 will support the correctional bearish attempts, thus, the correctional targets will remain stable around 146.80, and breaking the moving average 55 will push the price to test 38.2% Fibonacci level at 142.95.

We remind you that rallying above the current barrier and providing positive close will confirm regaining the bullish bias to expect the attempts to reach 152.80 level, to push on the previously recorded top and wait to reach the next positive target at 155.20.

Expected trading range for today is between 149.10 and 146.80

Expected trend for today: Bearish