FX.co ★ ckerluke | GBP/JPY

At the end of the past trading week, bears actively tested the calculated support level around 208.00 in the GBP/JPY pair. However, they failed to break through it, despite the relatively high and increasing volumes during the test. This lack of further decline appears as weakness on the bears' side, indicating a good chance of seeing the British pound strengthen further in the near future. Overall, I still prioritize buying, so I will be looking for the continuation of the growth that started yesterday in the second half of the trading day towards the nearest calculated resistance level at 209.00 for the GBP/JPY pair in the upcoming trading week.