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The interim uptrend, which started more than a week ago, has failed to continue, as today the GBP/JPY currency couple experienced a slight bearish reaction, and at the particular moment the currency pair is gradually moving towards the weekly R1 at 130.98, which is likely to stop the downtrend, however, if it is broken, then the price will probably reach the monthly R1 at 130.70, which in turn might bring some bullish impulse. Additionally, the overall indicator outlook is neutral, therefore no significant tendency changed are expected in the nearest future.
Traders' sentiment
Traders at SWFX market are rather neutral regarding the GBP/JPY currency pair, as 44% of traders hold bullish positions and 56% of traders hold bearish positions. The situation with orders is quite neutral, since 45% of traders ordered to buy and 55% ordered to sell the British Pound.
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