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GBP/JPY Price Analysis: Pound holds steady near 191.00 amid mixed technical landscape

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GBP/JPY Price Analysis: Pound holds steady near 191.00 amid mixed technical landscape

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New update 2025.05.06 06:31
GBP/JPY Price Analysis: Pound holds steady near 191.00 amid mixed technical landscape

update 2025.05.06 06:31

  • 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


Date

Created

 : 2025.05.06

Update

Last updated

 : 2025.05.06

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