During the European trading session on Monday, the GBP/JPY pair retraced to approximately 195.65 after reaching an intraday high of 196.00. This decline comes as the Japanese Yen gains momentum. The support for the Yen follows the release of Japan’s revised Q1 GDP data, which revealed that the economy recorded flat growth. Investors are reacting positively to this news, signaling confidence in Japan’s economic stability. As the trading day progresses, market participants will watch closely for any further developments that may influence the yen and the GBP/JPY pair.