CortesTeam
Short

GBP/JPY: Closing in to a major reversal area

FX:GBPJPY   British Pound / Japanese Yen
We are looking at the GBPJPY             approaching a major level of structure (Resistance) in confluence with a major fibonacci level (The 61.8). We will be waiting for the price to show reversal proce patterns, not likely to enter aggressive in this trade,

Of course if it breaks above the resistance, we'll start to look for long opportunities.

Remember guys, Eyes on your mind. not on your trade

CortesTeam
will it go down?
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CortesTeam PRO RajveerSingh
Yes there is high probability to go down if it reaches the reversal zone, once its there, we will wait for the price to react, giving us confirmation of a reversal.
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veritasfx CortesTeam
Not sure the cable is too strong for 4 days. It might be rest for a while.
Reply
Yeah you are right, that's why we can't be aggressive in this trade.
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