Good morning traders, today we bring you an interesting event that we detected in the GBP/JPY pair.
🔸First of all, we must clarify that this pair has been in a great uptrend for several months, without any correction along the way. A vertical rise.
🔸A few hours ago, the price faced against the top of the bullish channel.
🔸We were expecting a reversal a little higher, in the resistance zone, but apparently the price is reacting to the trendline.
🔸We expect a move in the bearish direction, and we must be careful, because it can be a strong movement, since there are no nearby support zones.
🔸First of all, we must clarify that this pair has been in a great uptrend for several months, without any correction along the way. A vertical rise.
🔸A few hours ago, the price faced against the top of the bullish channel.
🔸We were expecting a reversal a little higher, in the resistance zone, but apparently the price is reacting to the trendline.
🔸We expect a move in the bearish direction, and we must be careful, because it can be a strong movement, since there are no nearby support zones.