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GBP/JPY: Technical Analysis

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GJ initiated a downward move, breaching the previous day's low at 190.358, but this proved to be a deceptive maneuver, as the bearish sentiment faltered. Instead, the market exhibited resilience, embarking on an upward retracement. Anticipating a bullish resurgence, attention is drawn to GJ's rebound from the key Fibonacci retracement level of 190.599. The objective is to challenge the daily peak of 190.932, followed by a brief correction before gathering momentum for a targeted ascent towards 191.351.
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