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CortesTeam

GBP/JPY: Closing in to a major reversal area

Short
British Pound / Japanese Yen (FX:GBPJPY)  
CortesTeam  
FX:GBPJPY   British Pound / Japanese Yen
Fibonacci Retracement Fibonacci fibo Fibonacci Cluster confluence structure structure-trade structuretrade Support and Resistance Support and Resistance reversal potentialreversalzone price-action
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fibonacciretracement fibonacci fibo fibonaccicluster confluence structure structure-trade structuretrade supportandresistance supportandresistance reversal potentialreversalzone price-action
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
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