🔹 3H Chart by PULSETRADESFX
After a strong bullish trend within a rising channel, GBP/JPY has now broken structure to the downside. Price rejected the resistance zone around 198.599 – 199.413, followed by a sharp bearish candle close beneath the ascending trendline support.
This signals a shift in market sentiment, with sellers taking control and aiming for the next demand level at 197.481.
📌 Trade Breakdown:
Entry: 198.536
Stop Loss: 199.413 (Above supply)
Target: 197.481 (Major demand zone)
A classic break-retest-drop setup is in play here. Unless price reclaims 199.00+ with volume, this short bias remains valid.
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✅ Key Confluences:
Rising channel break
Supply zone rejection
Bearish momentum confirmation
Risk-to-reward > 1:2 setup
📅 July 11, 2025
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.