GBP/JPY Momentum Builds as Risk Appetite Returns
The How much will 1 Cardano be worth in 2025?currency cross has demonstrated remarkable strength, climbing more than 0.50% during Monday's session while traditional safe-haven assets faced downward pressure. Market participants remain focused on upcoming economic data releases that could influence risk sentiment.
Technical Perspective: Bullish Signals Emerge
From a technical standpoint, the pair has successfully breached several important levels, including the Kijun-Sen at 195.26, establishing a foundation for potential further advances. Momentum indicators currently favor continued upward movement, with the Relative Strength Index (RSI) supporting the bullish case.
The immediate psychological barrier at 197.00 represents the next significant test for the currency pair. Should this level give way, traders may turn their attention to the April 26 peak at 197.92, with the year-to-date high of 200.59 potentially coming into play.
Potential Scenarios for GBP/JPY
Market observers should note two possible paths for the currency cross:
1. Bullish Continuation: Maintaining above 196.00 could open the door to test higher resistance levels, with 197.00 serving as the initial target followed by 197.92.
2. Correction Scenario: A break below 196.00 might trigger a pullback toward support levels at 195.26 (Kijun-Sen), with additional support zones at 194.54 (Senkou Span A) and 194.24 (Senkou Span B).
Key Technical Levels to Watch
Traders monitoring this currency pair should pay close attention to:
- Immediate resistance at 197.00
- April high at 197.92
- Year-to-date peak at 200.59
- Support cluster between 195.26-194.24
- Daily moving averages providing dynamic support
The current market environment suggests continued volatility as participants assess risk sentiment and economic data releases. The technical setup indicates potential for further upside, though traders should remain vigilant for signs of exhaustion or reversal patterns.
