The GBP/JPY Pair on the M30 timeframe presents a Potential Selling Opportunity due to a recent Formation of a Triangle Breakout Pattern. This suggests a shift in momentum towards the downside in the coming hours.
Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.
Target Levels:
1st Support – 191.77
2nd Support – 191.00
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Possible Short Trade:
Entry: Consider Entering A Short Position around Trendline Of The Pattern.
Target Levels:
1st Support – 191.77
2nd Support – 191.00
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Trade active
Take Entry nowNote
Trade closed: target reached
with Good Profit
Note
The British pound is losing value for the fourth month in a row because the UK economy is weakening. This is due to problems like high bond yields, rising unemployment, and less consumer spending. The Bank of England might cut interest rates to help. Additionally, trade tensions with the U.S. are adding to market worries.
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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.