-The price has formed a triple top on the H1 timeframe
-It's showing signs of a reversal on the H4 timeframe
-First profits will be secured when the price hits the 0.618 Fib retardement
-Second profits will be secured when the price reaches the 0.95000 area, where a level of demand is located
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The pair has bounced off a resistance zone, from this area we are expecting an amazing move upwards.
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🔵Buy at 1.62210
GBP/JPY is currently consolidating. We will be waiting for a bounce/break and re-test of the bounced/broken key zone before opening a valid position for the pair👌🏻
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-It is consolidating on a key level, which has been valid since July of this year
-It is heavily rejecting the area of resistance
The first target will be set at around 1.07450 region, if the price manages to break through that level, then we will be anticipating more movement to the downside!
Reasons to sell:
-The price is currently at the upper boundary of an upwards ranging channel
-It has created a double top at the key area
-The last three candles have strong bearish pressure
We will take our profits once the price hits the lower parallel line of the channel.
USD/CAD is currently at a very strong area of support, and we can observe that it is preparing for a nice impulsive move upwards.
We will be opening a Long position and aiming for a huge number of pips!