Looking for a selling pressure to come into the market around now. We are reaching a resistance zone and i would like to see price move down.
I would enter sells once i see confirmations of rejection and I will add more sells once price breaks the first support and retests it.
GBPJPY (Update)
Facing Horizontal Resistance of Ascending Triangle in 1D Time Frame Chart.
RSI Indicator Showing It's in Overbought Territory & GBPJPY Might retest the Trendline of Triangle.
Expecting Upside Breakout, If Bulls Cleared the Resistance Area, In Worst Case, If Trendline Broken, It Might test the Major Support Area (125.00)
Please like the idea...
GBP/JPY broken fibonacci level=>extensions
The last fibonacci zone is broken and we're heading to a fibonacci extension tot -62%.
We could enter from a retest outer trendline 134.000
Take profits 136.000
and 139.00
Always risk 1-3 % of your captital
Looking at a potential Bearish Bat completion @ 161.139.
Price action moving back into structure, AB=CD pattern completion & 1.618 Fib extension of AB w/in AB=CD pattern.
RSI divergance / overbought (RSI +70) probable.
Given the bank holidays, there may be some potential volatility to be concerned about. Upcoming news from JPY unlikely to move markets. I...
