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DeGRAM
Nov 18, 2020 8:31 AM

GBPJPY ready to fall Short

British Pound / Japanese YenFOREX.com

Description

The price moves along the resistance line (descending), thus continuing to fulfill my previous forecast with a sell signal.
Just before that, the price broke through the strong resistance zone (138.582) and was able to return to its limits again

After that, we opened the sale.

Since now the price is still near the resistance zone (the intersection of two strong lines of 2019), plus it also recently broke through them (requiring a lot of resources), I do not think that it will go up.

So, the forecast for the fall remains.
I expect the price to fall towards the support line. The target is 135.041.

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Comments
vortextrade
InkyGrip
nice setup my friend! 🦐👌🏻
DeGRAM
@plancton0618, Thank you a lot
TradingAlchemist
on what grounds you think that gbpjpy will down?
DeGRAM
@TradingAlchemist, Two resistance lines put pressure on the price.

Do you have any other choice?
vortextrade
@DeGRAM Brexit 141 🤨 Possible
DeGRAM
@vortextrade, Will see bro
Solldy
Resistance line will help the price get to the goal!
DeGRAM
@Solldy, Right
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