Hello traders as we can see on daily timeframe that GBPJPY is in a down trend if we consider channel from 2018. But from 2020 it started to develop uptrend and we do see that price is making nice higher highs uptill now. Once price was rejected from 50% fib level. Now its on the same level and testing it. i expect price to drop and then continue in newly formed uptrend channel of 2020. It may go uptown 61% fib level. But we need to monitor the price that if this newly formed uptrend will continue to grow or down channel of 2018 will continue?.
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