RLinda ! GBPJPY-> Pressure of sellers on limit support

GBPJPY demonstrates the potential for strengthening of the Japanese Yen and weakening of the Pound. Earlier, the upward price channel was broken. The price fell to the support of 165.26.

A "Downtrending Triangle" pattern is forming on the chart, which is interpreted as "sellers' pressure on the limit support level". Based on this, I expect a breakdown of the pattern base with the subsequent price decrease. The area of 165.500-166.00 is a strong resistance at the moment and adds strong downward pressure on the price.

The target will be the level of 164.15, behind which the liquidity zone is squeezed, and also the far level - 163.04, if the price is directed to update the lows.

Regards R.Linda!

Trade closed: stop reached