GBPJPY structure with fib completion

FX:GBPJPY   British Pound / Japanese Yen
188 2 2
Hello traders, have a potential short on this pair with an ab=cd pattern completing at the structure above. One can see that the structure was retested various times on lower timeframes but price couldnt break it. I am looking to short to the 382 level which is a previous demand level as well as the 618/786 area where another demand is present. Moreover we have bearish divergence on this pair which one can observe on MACD .

good place to re-enter or add positions. Stops moved to entry . 3 percent risk vs 20 percent reward on this trade
great call! Thanks!
+1 Reply
AkashGaur NicholasPrinsloo
Thankyou :)
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