GBP/JPY – 1H – SELLThe pair moves from the bullish trendline down.
A bearish movement down to the next support line at 197.10200 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 199.04400 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 197.538 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support line at 199.04400 is within the realm of possibility.
Consider stop-loss settings accordingly.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 199.70900 |
| Next High | 199.04400 |
| Current Price | 198.26500 |
| Next Low | 197.10200 |
| 2nd Low | 196.48700 |
| 3rd Low | 195.36700 |