Overview:
Price action on this GBPJPY pair has broken below a well-respected ascending channel, signaling potential downside momentum ahead. We’re seeing early signs of a trend shift, supported by lower highs and a drop below previous support zones.
Key Levels to Watch:
Resistance Zone: 193.780 – 194.000
A rejection from this area could confirm bearish continuation.
Current Structure Support: 192.461
A clean break and retest here may lead to further downside moves.
Points of Interest (POIs)
190.820 – First short-term target
189.676 – Stronger liquidity zone
188.667 – Final support and potential reversal area
Price Flow Outlook:
We might see some minor retracement or consolidation between 193.172 - 192.461, but if bearish pressure holds, expect a move toward the POIs. Watch for signs of rejection or absorption around 190.820 to evaluate continuation
Structure Notes
Previous consolidation block acted as a launchpad for bullish movement but has now been invalidated.
With trendline support broken and volume tapering off at higher levels, bearish pressure is gaining control
Trade Idea (Not Financial Advice):
If price retests 193.172 – 193.780 and shows rejection, a short opportunity may open targeting the zones below (especially 190.820 and 189.676) Keep an eye on lower timeframe confirmations for entry
Price action on this GBPJPY pair has broken below a well-respected ascending channel, signaling potential downside momentum ahead. We’re seeing early signs of a trend shift, supported by lower highs and a drop below previous support zones.
Key Levels to Watch:
Resistance Zone: 193.780 – 194.000
A rejection from this area could confirm bearish continuation.
Current Structure Support: 192.461
A clean break and retest here may lead to further downside moves.
Points of Interest (POIs)
190.820 – First short-term target
189.676 – Stronger liquidity zone
188.667 – Final support and potential reversal area
Price Flow Outlook:
We might see some minor retracement or consolidation between 193.172 - 192.461, but if bearish pressure holds, expect a move toward the POIs. Watch for signs of rejection or absorption around 190.820 to evaluate continuation
Structure Notes
Previous consolidation block acted as a launchpad for bullish movement but has now been invalidated.
With trendline support broken and volume tapering off at higher levels, bearish pressure is gaining control
Trade Idea (Not Financial Advice):
If price retests 193.172 – 193.780 and shows rejection, a short opportunity may open targeting the zones below (especially 190.820 and 189.676) Keep an eye on lower timeframe confirmations for entry
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.