Short

GBPJPY 1D MA200 rejection. Channel Down sell signal.

The GBPJPY pair has been trading within a Channel Down pattern and the recent Bullish Leg got rejected yesterday on the 1D MA200 (orange trend-line). If the 1D RSI closes below its MA trend-line, we will have the ideal sell confirmation signal.

Our Target is the top of the 4-month Support Zone at 188.550.

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