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GBPJPY Approaches the Target – Forecast for July 11, 2024

Yesterday, the GBPJPY pair exhibited strong positive momentum, breaking through the 208.00 barrier. This movement supports the continuation of the expected bullish trend in the near term, with projected targets at 208.40 and subsequently 209.00.

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Despite current stochastic indicators showing some negativity, which could lead to temporary sideways fluctuations, the bullish outlook remains intact as long as the price maintains stability above 206.60.

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Today’s anticipated trading range is expected between 207.20 and 209.00.

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Trend Forecast: Bullish

Traders are advised to monitor price movements around the key support and resistance levels, with a focus on any signs of sustained bullish momentum above 206.60 to confirm further upside potential in the GBPJPY pair.

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