GBP/JPY – 30M – SELLThe currency pair moves from the bullish trendline down.
The bearish trend downwards to the next support line at 196.39600 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 197.62900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 196.876496 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of support at 197.62900 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 198.43200 |
| Next High | 197.62900 |
| Current Price | 197.24600 |
| Next Low | 196.39600 |
| 2nd Low | 195.09600 |
| 3rd Low | 195.08500 |