Lingrid | GBPJPY possible Channel BREAK Bearish Move

The price perfectly fulfilled my last idea. GBPJPY is consolidating after a strong rally toward the March high. Price is now testing support near 193.8, where the ascending trendline and prior breakout zone converge. A failure to hold this level may open the door for a drop toward 191.000. However, bulls remain in control while price stays above trend support.

📈 Key Levels

• Buy zone: 193.0 – 193.8
  
• Buy trigger: bounce from trendline with bullish momentum
  
• Target: 196.3
  
• Sell trigger: break below 193.0
  

💡 Risks

• Weak UK data may trigger bearish sentiment.
  
• Yen strength due to safe-haven flows could pressure GBPJPY.
  
• Break of trendline may lead to deeper correction below 191.
  

Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻