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AlkalineFX
Nov 30, 2020 9:16 AM

GBPJPY - Break Back In Long

GBP/JPYOANDA

Description

This pair suggested a breakout of the descending channel and introduced sellers into the market. We have now seen a structural shift and a re-entry into the channel, suggesting price is not ready to proceed to the downside. If we manage to remain above the structure marked, this could give us an opportunity to buy into the channel highs whilst fighting the retail sentiment.

Sentiment Data - 54% Selling
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