Weekly Chart.
This is a long term outlook. Do not trade if you can only be in trades a few days.
Over the past few months the £ has gained on the Yen in what looks like a pullback within a very long term downtrend.
We are reaching a confluence level of multi timeframe Resistance and at the upper range of a long term down trend as shown in the chart.
I will be expecting an erosion in the GBP over the next 12 months.
Multiple TP trades down to 1.27's area for me.
Good luck if you get on board.
This is a long term outlook. Do not trade if you can only be in trades a few days.
Over the past few months the £ has gained on the Yen in what looks like a pullback within a very long term downtrend.
We are reaching a confluence level of multi timeframe Resistance and at the upper range of a long term down trend as shown in the chart.
I will be expecting an erosion in the GBP over the next 12 months.
Multiple TP trades down to 1.27's area for me.
Good luck if you get on board.
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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.
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.