GBPJPY
Updated
a bit of a tricky one, so i decided to keep to the large timeframes
on a large timeframe, we are overall bearish
lower highs playing with different resistance levels
Lower lows have been respected my drawn trendline support
recently had a massive bearish run to the bottom
price approaching various support levels
(support trendline W & M)
(backtetsted fibonacci retracement levels with 0%-148.7 and 100%-143.8)
on a large timeframe, we are overall bearish
lower highs playing with different resistance levels
Lower lows have been respected my drawn trendline support
recently had a massive bearish run to the bottom
price approaching various support levels
(support trendline W & M)
(backtetsted fibonacci retracement levels with 0%-148.7 and 100%-143.8)
Note
price hit the 261.8% fib to the tea
personally, i still see this pair dropping lower
Note
on the H4, i saw a fib inside a fib
with the retest and continuation past its lower lower
i see it completing the wave drawn on there
retest of the 100% and push down to 161.8%
a break past 135.6 would be a more conservative approach for positions
keeping i mind they is some fundamentals this week for both currencies
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.