- The GBP/JPY is quoted near the lower end of its daily range after falling below 189
- All key mobile socks are aligned with the bearish bias
- The RSI and the CCI remain neutral, but the impulse continues to erode
The GBP/JPY torque continued to give ground on Wednesday, falling to the 188 area and marking a daily decrease of almost 0.9%. The crossing remains anchored near the bottom of its range between 187,668 and 189,664, reinforcing the weight of the recent sales pressure.
The general technical panorama is bassist. The MACD prints a new sales signal, confirming the downward impulse. While the RSI in 41.24 remains in neutral territory, shows a gradual approach to overall conditions. Similarly, stock %K in 37.23 and the raw material channel index (CCI) in -69.48 remain neutral, but do little to challenge the predominant negative bias.
The most convincing signal comes from mobile socks. The 20 -day SMA in 191,292, the 100 -day in 192,269 and the 200 -day in 193,184 are all firmly inclined down. The short -term means, such as the EMA of 10 days (189,174) and the SMA (188,644) also reinforce the bearish trajectory, with the price continuing to quote below all of them.
The resistance awaits in 188,632, 188,644 and 189,174 – levels that must be exceeded to relieve the bearish pressure. For now, sellers are still in command while the GBP/JPY struggles to recover upstart traction.
Daily graph
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
