FX.co ★ Technical Analysis of Daily Price Movement of GBP/JPY Cross Currency Pairs, Monday December 16, 2024.

On the daily chart, the GBP/JPY cross currency pair price movement can be seen moving above MA 10 and inside the Bullish Pitchfork channel plus confirmation with the appearance of Fractal Bar between the GBP/JPY price movement and the RSI indicator (5) which indicates that the 3 Timeframes below it indicate a Bull RSI deviation, so based on the facts above, in the next few days GBP/JPY has the potential to strengthen and rise where as long as there is no significant weakening correction to break through and close below the 188.06 level, GBP/JPY has the potential to strengthen and rise to the 199.77 level and if momentum and volatility support it, 206.82 will be the next target.

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