What is the next direction we have on GJ.
As you can see on our chart above GJ is at our no trade Zone between 152.185 and 151.614 and we are waiting for it to break the zones so we can know exactly what we are in for either a long or short.
Patience pays so we will take our time monitoring this trade so we c
EURJPY sells off to its 5 month uptrend at 123.39 which is expected to hold initially, a Break below here would open the Path through September low to 122.38 and potentially to the 200 day ma at 121.08.
There are many reasons as to why l support the idea that the EURGBP pair will be selling through the week for quit some time.
There are 2 main news events that each and everyone has to be keen about.
1- 2 days European council meeting starting on Thursday in Brussels
2- If the leaders attending are optimistic on the EU-UK relationship after the Brexit, then...
Resistance from around 1.2982 to 1.325
Support from 1.2754 to 1.2481
And at that level we have 200 moving everage in 4hr TF, and we have the daily pivot resistance 2 and third the price was strongly rejected at that zone last time and fourth we have MACD hidden divergence.
