due to the chart, the currency has sideway movement, so after arriving to dynamic and static resistance at the same time, we expected reversal pattern create and done.
notice: if price hit TP1 and broken, you can stay with trend. if not you should close your positions.
due to the chart, the currency has a sideway movement, so we should wait to break out the front resistance and make a pullback and then you can open a long position on this currency.
due to the chart, the currency strongly broken the dynamic and static resistance at the same time, and made a pullback to them in last week.
so now, we expected continue uptrend to that target pined.
I think this two scenarios are probably for GBPJPY currency pair.
but short position is more probable, because a strong resistance is abow of the price.
one of the resistance is from Feb 2020 and the other one from Nov 2020 so I prefer the price falling until 61.8% and 50.0% fibonacci levels.
the pair has two options, if the red line make a support the price, maybe increase until next top but if the red line can't hold the price, the price will reduce until next support line.
we will wait for price action signal...
