The GBP/JPY pair ended its last bullish rally after encountering resistance at the upper boundary of the main bullish channel around 208.80, prompting corrective trading down toward 208.10 to consolidate recent gains.
Despite the pullback, the pair’s stability above additional support at 206.90 reinforces the prevailing bullish scenario. Once it gathers sufficient positive momentum, GBP/JPY may resume upward pressure on resistance, targeting new highs at 209.30 and 209.75.
Expected trading range for today: 207.40 – 208.60
Trend forecast: Fluctuated
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