GBP/JPY Price Forecast: Bulls stall near 216.00 as RSI flattens
The GBP/JPY consolidates at familiar levels on Tuesday, virtually unchanged near 216.00, with the cross-pair seesawing within the 215.85-216.22 range, as neither buyers nor sellers are able to clear key resistance/support levels during the day.
On Tuesday, the GBP/JPY currency pair remained stable near 216.00, fluctuating between 215.85 and 216.22. Neither buyers nor sellers managed to break through significant support or resistance levels. The GBP/JPY showed a neutral to upward bias, although the Relative Strength Index (RSI) had flattened, suggesting a potential consolidation phase.
The next major resistance level is 217.00, with a secondary resistance trendline near 217.50/65. A break below the 50-day Simple Moving Average (SMA) at 215.56 could lead to further declines, followed by the 100-day SMA at 214.71 and the 200-day SMA at 212.35. Japanese Yen (JPY) was the strongest currency against the New Zealand Dollar this week, according to the provided data.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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