The currency pair extends losses for a second session, dipping to its lowest level in over a week amid bearish momentum.
The GBP/JPY cross extended its decline for a second straight day, hitting a one-and-a-half-week low during early European trading on Friday. Selling pressure persisted as bears targeted levels below 212.00, though spot prices rebounded slightly to around 211.75, down 0.25% on the day.
The pair had previously struggled to sustain gains above the 212.00 mark, with recent sessions marked by increased volatility. Prior to this drop, GBP/JPY had shown resilience near multi-week highs, but failed to attract sufficient buying interest to reverse the downtrend.
Market reaction remained muted in the immediate aftermath, with traders assessing the pair’s next potential support levels amid broader risk sentiment.