GBPJPY June 16th Analysis
Price rejecting top trend line in flag. Looking for price to reach bottom of trend line and act as support. Will be high impact USD news this afternoon. Expecting price to reach trend line before news. The news will most likely make price reject and pull back up. Being that everytime price reaches .700 or lower it rejects strongly before the day is over with. It's been like that past several days. Building buying pressure on Daily. Next week there will be high impact bank news for GBP. Price should break to the upside when the news hits.
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.