The currency pair consolidates below its 50-day SMA after UK data and yen intervention fears curb fresh directional bets.
The GBP/JPY pair traded flat near 215.00 on Thursday, down 0.02%, as investors hesitated to take new positions. Caution stemmed from potential FX market interventions that could bolster the yen, alongside recent strong UK economic data limiting upside momentum.
Technical resistance at the 50-day Simple Moving Average (215.44) capped gains, while the Relative Strength Index (RSI) hovered near its neutral 50 level, signaling further consolidation. Support rests at 215.00, with the 100-day SMA at 214.57 and the 200-day SMA at 212.12 below.
A break above 215.44 could target 216.00, with 216.50 and 217.00 as subsequent resistance levels. Downside risks persist if support at 215.00 fails, potentially testing the August 7 low of 211.47.