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GBP/JPY: have eyes on this correctional move!

Short
British Pound / Japanese Yen (OANDA:GBPJPY)  
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OANDA:GBPJPY   British Pound / Japanese Yen
Support and Resistance Triangle Fibonacci GBPJPY priceaction Technical Analysis Forex forextrading investroy
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supportandresistance triangle fibonacci gbpjpy priceaction technicalanalysis forex forextrading investroy
As it can be observed from the 8H timeframe chart, the price has rejected the area of resistance plotted on the chart. Looking at the recent price development, we can notice how a massive impulsive bullish run has taken place after the breakout of the descending channel portrayed on the graph.

Currently, it can be inferred that the price is headed towards the downside to complete the correctional move of the recent impulsive move.

We believe the price will keep dropping and reach the target set

Mentions

UnknownUnicorn15614419
✅TS ❕ GBPJPY: fell heavily✅
UnknownUnicorn15614419
✅TS ❕ GBPJPY: bounced down✅
UnknownUnicorn15614419
✅TS ❕ GBPJPY: reached the support✅
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