GBP/JPY Stuck Below 50-Day SMA

The GBP/JPY pair has been struggling to break above its 50-day simple moving average (SMA), which is acting as a key technical barrier near the 215.50 level.

This resistance zone has repeatedly capped upside attempts, keeping the pair range-bound in recent sessions despite a generally supportive risk environment.

The Japanese yen remains sensitive to expectations of further policy normalization by the Bank of Japan (BoJ), which has provided some support for the yen and weighed on GBP/JPY.