The GBPJPY continues to declines – Analysis – 18-7-2019

The GBPJPY pair kept its negative track to notice forming new negative wave recently, attempting to approach the negative target at 133.15, reminding you that the waited target forms the extension of the main bearish channel’s support line, to allow us to monitor the price in case touching this level until detecting the next main trend.

Note that facing continuous negative pressures and attempting to break the targeted support will confirm moving into new negative track to increase the chances of recording additional targets that might start at 132.50 followed by 130.40.

The expected trading range for today is between 134.40 and 133.15

The expected trend for today: Bearish