A Professional View
A Professional View
Of The Market
Of The Market
R.Linda Trading
R.Linda Trading
R.Linda Trading - forecast

GBPJPY → False breakdown and obvious bearish pressure

FOREX forecast
💡Ideas For GBPJPY 🇬🇧🇯🇵

📈 GBPJPY → False breakdown and obvious bearish pressure

➖➖➖➖➖➖➖➖➖

GBPJPY is forming a false break of the resistance at 188.3 and is forming a consolidation, within which it can be seen that the market is under pressure from sellers
TradingView Chart
On D1 we see the formation of the global range 188.3 - 179.9. The price is forging a retest of the resistance of the range in the format of a false breakdown. After that consolidation will be formed. So far it is difficult to call it a pre-breakdown consolidation, because on local timeframes the price movement is preparing for a price drop. Local highs are gradually decreasing and the probability of breaking through the base of consolidation - 187.38 level is increasing. In this case there is a probability of starting correction to 185.9, 184.3. Globally the market has no trend, because the price is in sideways movement, and locally it is still bullish, but when breaking through the base of 187.38, the market phase may change.

Resistance levels: 188.3, 190

Support levels: 187.37

Indices of GBP, JPY currencies are standing still, GBP looks more optimistic, but on the background of geopolitics it gives prerequisites for correction, which can negatively affect the currency pair.