GBP/JPY maintains a bullish short-term outlook with eyes on the 217.45 resistance level, though a break below 211.53 would neutralize current upward momentum.
The 5 November daily outlook keeps GBP/JPY's rise from 206.85 in progress and the intraday bias upside, with 217.45 as the next resistance. That technical momentum favors further gains in the pair over the short term. A drop below 211.53 would neutralize the bias, and the larger move from 219.56 is still described as a correction.
The outlook cites 217.45 resistance on the upside and 211.53 minor support on the downside.
Yes, it says the rise from 206.85 is in progress and intraday bias remains on the upside, while a break below 211.53 would turn bias neutral.
The GBP/JPY pair maintains a bullish intraday bias as it extends gains from the 206.85 level. Technical indicators suggest further upside potential toward the 217.45 resistance mark, provided the pair holds above the critical 211.53 support level.
The outlook identifies 217.45 as the key resistance target and 211.53 as the minor support level that maintains the current bullish bias.
The larger price movement from 219.56 is considered a correction of the long-term uptrend that originated from the 184.35 low.