Hello Everyone. I want share my idea about GBPJPY pair.
At this pair we had a strong bullish trend, the trend was almost without HL, then price stopped and start consolidating, which was good for traders to identify where are buyers. last week we saw some strong bullish movement from 179.7 LVL which i think has power for brake resistance at 183.8 and then retest weekly resistance at 189.5.
after touch to weekly resistance i think we will see good low for enter long position. i think long because JPY index is also strong bearish.
Here is my scenes of price movements.
1 bullish - price going higher brake weak resistance at 183.8 then make retest it and test weekly strong resistance at 189.5.
2 bearish - price is not strong enough brake support at 179.7 LVL and coming down.
BE PATIENT!!!
At this pair we had a strong bullish trend, the trend was almost without HL, then price stopped and start consolidating, which was good for traders to identify where are buyers. last week we saw some strong bullish movement from 179.7 LVL which i think has power for brake resistance at 183.8 and then retest weekly resistance at 189.5.
after touch to weekly resistance i think we will see good low for enter long position. i think long because JPY index is also strong bearish.
Here is my scenes of price movements.
1 bullish - price going higher brake weak resistance at 183.8 then make retest it and test weekly strong resistance at 189.5.
2 bearish - price is not strong enough brake support at 179.7 LVL and coming down.
BE PATIENT!!!
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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.