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fxJul 1, 2026, 7:34 AM

GBP/JPY Consolidates Near Two-Month High as Intervention Risks Loom

The GBP/JPY cross is consolidating near a two-month high, with the Japanese yen remaining bearish amid looming intervention risks from Japanese authorities.

GBPJPY

The GBP/JPY cross has been consolidating its recent gains, oscillating in a range during early European trading after reaching a two-month high. The pair's strength is supported by a persistently bearish Japanese yen, but intervention risks from Japanese authorities are capping further upside.

Traders remain cautious as potential intervention could trigger a sharp reversal. The consolidation reflects market uncertainty over the next direction.

Source: FXStreet Forex News