GBPJPY – Bearish pressure returns near ascending channel support
GBPJPY is trading close to the lower trendline of the ascending channel, with the 197.400 zone acting as a key support. A breakdown below this level could trigger stronger bearish momentum.
On the news front, Japan’s CPI remains solid, strengthening the yen. Meanwhile, the British pound is under pressure after recent consumer spending data showed signs of weakness, raising concerns over the UK’s economic outlook.
Strategy: If the price breaks below 197.400 and fails to bounce back, consider SELL setups in line with the bearish trend. If it rebounds, watch the reaction around the 199.100 zone for signs of recovery confirmation.
On the news front, Japan’s CPI remains solid, strengthening the yen. Meanwhile, the British pound is under pressure after recent consumer spending data showed signs of weakness, raising concerns over the UK’s economic outlook.
Strategy: If the price breaks below 197.400 and fails to bounce back, consider SELL setups in line with the bearish trend. If it rebounds, watch the reaction around the 199.100 zone for signs of recovery confirmation.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
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.