Expected Scenarios and Trading Range Scenario 1: Correctional Decline Ended GBPJPY pair concludes recent correctional decline with multiple closings above the bullish channels support line at 191.30. Formation of bullish waves and confirmation of maintaining bullish bias with a reach of 194.12. Scenario 2: Bullish Momentum Attempt to form additional support at the 193.00 level. Positive momentum provided by stochastic indicators suggests further bullish attempts. Potential targets include 194.35 and 194.95 levels. Trading Range Expected range for today: 193.00 - 194.95

Trend forecast: Bullish