[m.youssif]

GBPJPY Forecast
The GBPJPY had a significant bullish correction yesterday after a better than expected UK GDP number. The bias is bullish in nearest term testing 129.82 and the upper line of the bearish channel but as long as price move inside the bearish channel the major scenario remains bearish and any upside correction should be normal now. Immediate support at 128.91 (current low). Break below that area oould trigger further bearish pressure testing 127.62 area and keep the major bearish scenario remains strong.

[m.youssif]

GBPJPY Forecast
The GBPJPY had a significant bullish correction yesterday after a better than expected UK GDP number. The bias is bullish in nearest term testing 129.82 and the upper line of the bearish channel but as long as price move inside the bearish channel the major scenario remains bearish and any upside correction should be normal now. Immediate support at 128.91 (current low). Break below that area oould trigger further bearish pressure testing 127.62 area and keep the major bearish scenario remains strong.