Pre-election uncertainty and risk aversion lead to GBP sales and JPY purchases. This can be seen very well in GBPJPY. Ahead of the upcoming elections next week, we expect this pressure to continue.
Technically, we have a breakthrough of important support - 135.75. It also turns out to be a neckline and we no longer expect the price to return above it.
The downward movement is impulse and we expect it to continue to 133.57 and eventually break. The next support is at 132.10.
Due to the upcoming events, it is possible to see larger movements, so be careful with the choice of volume and be patient with the corrections.
Technically, we have a breakthrough of important support - 135.75. It also turns out to be a neckline and we no longer expect the price to return above it.
The downward movement is impulse and we expect it to continue to 133.57 and eventually break. The next support is at 132.10.
Due to the upcoming events, it is possible to see larger movements, so be careful with the choice of volume and be patient with the corrections.
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✅ JOIN FREE TELEGRAM: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
❓ If you got questions: t.me/Semkov
💡 If you want to know on what basis we make our entries, get in here: t.me/trendlinefreetrade
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.