I'm not a crypto expert but this is what I see on the D1 graph of bitcoin. Current trend is downtrend, might want to consider short position. But for the time being, I'm neutral. (Playing safe). xD and trade safely guys!
Due to the recent election result, the GBPJPY pair has made a big bullish movement resulting in high volatility condition. My view on this pair is that the price may not retest the new support area due to the high momentum. I think that the price might go towards the area of major resistance and made a side way movement there.
In the longer time frame, we can see the price is trading near the support area. In the shorter time frame, the price broke the short term resistance line. This mean that price is building up momentum near the support area giving us opportunity to go long with minimal risk.
As for now, my position is still neutral as I am waiting for more information and confirmation. On the longer time period, the price is in the downtrend. Naturally, I will be biased on the short opportunity. Now, I am waiting for the price to trade into the blue area where we will be ready to look for short opportunity.
GBPJPY pair was in a two weeks ranging market with an extremely low volatility. The recent breakout from the ranging market and accompanied by increased volatility and momentum signalling a possible trend continuation.
It is time to continue shorting GBP currency as the dark horizon of brexit is approaching soon. I would say that the downtrend momentum is still strong in the bigger time frames while the current short term uptrend might be the upward pullback taking place. Anyway, Trade Safely!
The current sentiment for gbpjpy is quite optimistic, however I personally think that the Great Britain economy will be hit when Brexit occurs. When Brexit occurs this October, we may see a temporary contraction of GB economy during the transition period that will weakens the pound sterling. The selling momentum on the D1 time frame is also quite strong. Trade Safely!
For the past few months, this pair has been trading in a downtrend momentum until recently the price makes an upward movement. I believe that this is only an upward pullback and the price is going to continue its downtrend movement soon. Trade Safely!