GBP/JPY: Potential Bearish Reversal After Corrective Wave
In this 2-hour chart of GBP/JPY, the pair appears to be forming an ABC corrective pattern within a rising channel. The price may encounter resistance around the 191.220 level, potentially completing wave C. If confirmed, this could trigger a downward move toward the 180.000 region, aligning with the broader bearish trend. Traders should watch for reversal signals at the channel’s resistance for potential short opportunities.
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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.