GBP/JPY – 30M – SELLThe combination moves from the bullish trendline down.
A bearish movement down to the next support at 188.70000 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 192.29900 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Current target is 190.2315 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 192.29900 could happen.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 193.48100 |
| 2nd High | 193.35400 |
| Next High | 192.29900 |
| Current Price | 190.53300 |
| Next Low | 188.70000 |
| 2nd Low | 188.16400 |
| 3rd Low | 186.68500 |