The GBPJPY takes breath – Analysis – 26-3-2021

The GBPJPY pair formed temporary positive rebound yesterday, attempting to take a breath after recording 148.52 level, while in general, the correctional bearish overview will remain valid as long as 151.50 remains intact, to expect gathering the additional negative momentum and start forming new negative trades to target the initial support at 147.80.

On the other hand, succeeding to breach the mentioned barrier and holding above it will cancel the correctional bearish overview and provide the chance to renew the bullish attack, to expect moving towards 152.90 followed by reaching the bullish channel’s resistance at 153.80.

The expected trading range for today is between 150.80 and 148.30

The expected trend for today: Bearish