GBPJPY Chart Technical Outlook resumes the broadly bearish bias, fading rallies are favored
GBP/JPY completed a five-wave corrective structure to the upside, WXYXZ. The broad bias is bearish, and prices have resumed lower. A bearish structure is in play, with supports at 187.90 and 186.60. Any rally should be corrective and find sellers. Resistances are located at 189.25 and 190.00. Fading rallies offer a better reward-to-risk ratio.
