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GBP/JPY stalls near 216 as RSI flattens and range holds

The cross is trading between 215.85 and 216.22, with a break below 215.56 (50-day SMA) flagged as a trigger for further downside.

Reported · Written up by our desk · Major Pairs

GBP/JPY is consolidating near 216.00, trading largely flat as the pair swings within the 215.85 to 216.22 range, leaving neither buyers nor sellers able to push through key nearby levels, according to FXStreet.

The outlook is described as neutral to upward biased, but bullish momentum has faded as the Relative Strength Index flattens, suggesting consolidation may continue.

FXStreet highlights key resistance levels at 217.00, then a resistance trendline around 217.50 to 217.65, with additional upside referenced near the July 9 high at 218.01.

On the downside, the focus is a potential drop below the 50-day SMA at 215.56, which would open the door to lower levels, followed by the 100-day SMA at 214.71 and the 200-day SMA at 212.35.

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