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GBP/JPY Touches First Target – Forecast for June 25, 2024

GBP/JPY Price Analysis

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Expected Scenario

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The GBP/JPY pair experienced a brief corrective bearish wave yesterday but stabilized above the additional support level of 201.40. It successfully reached the first additional target at 202.55.

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Expectations are for sideways trading initially, as the pair gathers additional positive momentum to sustain its upward movement. The next main target is anticipated at 203.40, and close monitoring of price behavior at this level will be crucial to determine the next major trend direction.

Expected Trading Range

Traders can anticipate GBP/JPY to trade within a range of 201.80 support to 203.40 resistance.

Trend Forecast

The trend forecast for GBP/JPY remains bullish, reflecting the current technical setup and price action.

Investors and traders should closely monitor these levels to navigate today’s forex market effectively.

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