GBPJPY – Bearish pressure returns near ascending channel supportGBPJPY is trading close to the lower trendline of the ascending channel, with the 197.400 zone acting as a key support. A breakdown below this level could trigger stronger bearish momentum.
On the news front, Japan’s CPI remains solid, strengthening the yen. Meanwhile, the British pound is under pressure after recent consumer spending data showed signs of weakness, raising concerns over the UK’s economic outlook.
Strategy: If the price breaks below 197.400 and fails to bounce back, consider SELL setups in line with the bearish trend. If it rebounds, watch the reaction around the 199.100 zone for signs of recovery confirmation.
