GBP/JPY Breaks Support Trendline, Eyes 217.50
GBP/JPY traded above 218.00 but broke a key support trendline, opening the door for further losses toward 217.50.
GBPJPY
The pound-yen cross held above the 218.00 figure during Wednesday's session, yet sellers retained control after a decisive break below a major support trendline.
Technical pressure has intensified, with traders now targeting the 217.50 area as the next downside level. At the time of writing, the pair was quoted at 218.16, reflecting a modest decline.
A sustained move below 218.00 would confirm bearish momentum, while any recovery would need to reclaim the broken trendline to shift the near-term outlook.
Source: FXStreet Forex News