The GBPJPY moves within tight range – Analysis – 16-8-2019

The GBPJPY pair failed to break 126.50 support to force the price to form clear correctional rebound by reaching 128.85 level, reminding you that it is important to hold below the initial resistance at 130.00 to confirm blocking the price within tight range, to increase the chances of forming mixed sideways trading now.

We remind you that succeeding to break the current support will confirm moving into new negative track, to target new levels that might start at 124.85, while attempting to rally above the current resistance will increase the chances of forming correctional bullish trades to target 131.70 followed by reaching the key resistance at 133.00.

The expected trading range for today is between 130.00 and 126.50

The expected trend for today: Neutral