The currency pair stalls at 217.00 amid broader market uncertainty and haven demand for USD and gold.
The GBP/JPY pair consolidates around 217.00 on Monday, pressured by risk aversion as investors shift toward safe-haven assets like the USD and gold. Geopolitical tensions in the Middle East continue to weigh on sentiment, limiting upside momentum for the pair.
Technical indicators show the Relative Strength Index (RSI) stalling near 60 after a bullish rebound from the 50-neutral level. A break above 217.00 could target resistance at 217.20-30, followed by 218.00 and the July 30 high of 218.69. Support lies at 216.00, with further downside risks toward the 50-day SMA at 215.68.
The Japanese yen remains the strongest performer against major currencies today, particularly against the Canadian dollar, reflecting broader haven flows.