GBP/JPY Price Analysis: Pound holds steady near 191.00 amid mixed technical landscape
- GBP/JPY trades near the 191.00 zone with little movement after Monday’s European session.
- Overall tone is neutral, with short-term signals diverging and long-term resistance capping upside.
- Support remains just below current levels, while resistance aligns near recent highs.
The GBP/JPY pair showed marginal movement on Monday, holding near the 191.00 zone following the European session. Price action remained flat within a narrow range, reflecting uncertainty in direction as momentum indicators deliver conflicting signals. While intraday buyers provided minor support, broader trend signals remain undecided.
Technically, GBP/JPY is currently exhibiting a neutral outlook. The Relative Strength Index is flat near 52, confirming a lack of directional momentum. The Moving Average Convergence Divergence offers a mild buy signal, but this is countered by a bearish print from the Momentum indicator. The Awesome Oscillator adds to the indecision, staying neutral, while the Ichimoku Base Line also lacks a clear bias.
Trend indicators further illustrate the standoff. The 20-day Simple Moving Average, positioned below price, suggests some bullish undertone in the short term. However, the 100-day and 200-day SMAs — both above current levels — point downward, acting as broader resistance. Until those longer-term levels are breached, any upside may be capped.
Support is found at 191.07, 191.05, and 190.98. Resistance levels lie at 191.17, 191.70, and 191.98. A sustained move outside this tight band may be required to establish a clearer directional breakout in the coming sessions.
Daily Chart
