FX.co ★ GBP/JPY

As of today, the GBP/JPY currency pair continues to move within a descending channel, which indicates that sellers still maintain control. After an attempt to stay below the 214.80 level, a pullback began. I expect that in the near future the price of the currency pair will move roughly in the range from 214.80 to 214.40. At the moment, the 214.80 level is the nearest support; if the price manages to break below this level, it may become one of the first signals that a move toward 214.40 is likely to begin, although a pullback may also occur. However, it is important to note that the price is currently above this point, so the priority movement remains bearish.