Scenarios
Scenario 1: Activation of Bullish Momentum
- GBPJPY pair forms new negative waves, settling near bullish channel’s support line at 191.50.
- Activation of bullish track requires new closings above this support.
- Positive momentum needed to start forming bullish waves targeting 193.00 and 194.80.
Scenario 2: Potential for Negative Track
- Facing new negative pressures.
- Crawling below mentioned support.
- Negative close would confirm movement to negative track.
- Potential for significant losses extending towards 190.10 and 188.50.
Trading Range
The expected trading range for today is between 191.50 and 193.50.
Trend forecast: Bullish