“GBP/JPY Struggles to Maintain Upward Momentum – Market Outlook 08-01-2026”

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The GBP/JPY pair has lost bullish momentum following the stochastic’s exit from overbought levels, delaying upward moves as the price stays below the key 211.30 level, which continues to act as a significant barrier to further bullish attempts.

We anticipate mixed trading, with the potential to test the minor bullish channel’s support around 210.10. A break below this support could open the way for further corrective targets at 209.45 and 208.80. On the upside, a rally above the 211.30 obstacle would increase the likelihood of new gains, targeting 212.55 and 213.75.

Expected trading range for today: 210.10 – 211.50
Trend forecast: Fluctuating within the bullish trend

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