GBPJPY threats the positivity – Analysis – 19-10-2018

The GBPJPY pair surrendered to the negative pressure yesterday by forming new bearish wave, crawling below 146.90 level, to settle within the bearish channel again, which allows us to suggest the negative trades and expect to move towards 145.75 level first, while getting additional negative momentum will extend trades towards 144.75 that will form the first main target of the bearish bias.

Also, stochastic fluctuation near 20 level agrees the current negative overview by providing additional negative momentum and increase the chances of forming the suggested negative attack.

Expected trading range for today is between 146.90 and 145.75

Expected trend for today: Bearish