GBPJPY 1hour Analysis December 15th, 2020
Brexit talks can cause some extra volatility this week. Be cautious on GBP pairs.
Trade Scenario 1: Bearish - We need to see price break below 139.00 and the 1hour 200MA, we will then look for a retest and a clear LH. Enter on bearish engulfing
Trade Scenario 2: Bullish - We need to see price break above the weekly level at 139.50, we will then look for a retest of this level to flip as support. Enter on bullish engulfing/momentum
Trade Scenario 1: Bearish - We need to see price break below 139.00 and the 1hour 200MA, we will then look for a retest and a clear LH. Enter on bearish engulfing
Trade Scenario 2: Bullish - We need to see price break above the weekly level at 139.50, we will then look for a retest of this level to flip as support. Enter on bullish engulfing/momentum