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HomeLatestGBPJPY Attacks Resistance – Forecast for July 1, 2024
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GBPJPY Attacks Resistance – Forecast for July 1, 2024

GBPJPY Price Analysis

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The GBPJPY pair reached the initial correctional target at 202.60 last Friday, establishing additional support against bullish attempts and suggesting potential for a new upward rally to challenge the resistance line at 203.95.

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The future scenario hinges on the resilience of this resistance level. A sustained hold could prompt a return to the correctional bearish trajectory, targeting the 202.60 support level once more. Conversely, a breakout above the resistance and maintaining above it would indicate readiness to pursue higher levels, potentially targeting 204.40 and 204.85 initially.

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Expected Trading Range

Market analysis suggests a trading range with resistance at 203.95 and support at 202.60 for the immediate trading sessions.

Trend Forecast: Bearish

The trend forecast suggests a bearish outlook for the GBPJPY pair in the near term, contingent upon the strength of the resistance level.

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