After reversing from the 186.50 level, GBP/JPY is on a downtrend. At present, GBP/JPY is struggling to cross the hourly moving average.
We can also see the formation of a double-top pattern in the 1H chart. So, based on this observation, GBP/JPY is likely to fall to the 183.50 level once again.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.