Nicemate
Short

GBPJPY Weekly Analysis

FX_IDC:GBPJPY   POUND STERLING / YEN
40 0 0
FX_IDC:GBPJPY             is on a monthly long bearish trend .
As the monthly trend is simply bearish , and no other interesting element can be found, the weekly timeframe is developing an AB=CD pattern , with a target at 126.93. Bearing this approaching target in mind, and considering the pair is at the moment in a corrective structure, it becomes interesting to find short positions on lower timeframes.
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