FX.co ★ GBP/JPY

Hello traders! I will review the GBPJPY pair. Currently, the pair is trading at the level of 211.92. There is a continuation of the upward movement. If the bulls continue to exert pressure on the pair, I believe they will eventually break through. If we get confirmation, I think they could easily test the level of 213.23, from where the bears are likely to become active again. Although at the moment, this outcome seems unlikely. If the level holds, there could be a short-term move to the south towards 211.37, where selling opportunities may arise. If there is a breakout and the pair consolidates above this level, we can expect a decline in the pair. Now let's look at the indicators: the pair is trading above the Ichimoku Kinko Hyo cloud and the middle Bollinger Band line, so I consider buying to be a priority after a retest and consolidation at the 211.92 level towards the levels of 212.50 and 213.23.

Wishing everyone profitable trades!