GBP/JPY – 1H – SELLThe combination goes from the bullish trendline downwards
A descending movement downwards to the next support at 193.69800 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 195.27700 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 194.025956 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 195.27700 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 195.96900 |
| 2nd High | 195.71900 |
| Next High | 195.27700 |
| Current Price | 194.46000 |
| Next Low | 193.69800 |
| 2nd Low | 193.56500 |
| 3rd Low | 192.87700 |