GBPJPY: A Potential Downtrend
Updated
The major supply zone has been tested several times and appears to be holding, suggesting that sellers may soon take control. The price recently dipped into a minor demand zone around 193.700 and bounced back. I anticipate selling will resume after this brief retracement.
As always, patience is key—we need to wait for a clear trade setup to develop on the M15 timeframe before executing. If price breaks the minor zone at 193.700, it will likely move to the next one at 193.000 with ease. Let’s see how this trade idea unfolds.
As always, patience is key—we need to wait for a clear trade setup to develop on the M15 timeframe before executing. If price breaks the minor zone at 193.700, it will likely move to the next one at 193.000 with ease. Let’s see how this trade idea unfolds.
Order cancelled
Trade invalidated. Shift to AUDUSD with a similar setup.
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