Uptrend in Play or Drop Incoming? Key Price Zones!
Updated
GBPJPY Current Price: 195.150
Chart Timeframe: 1-Hour
Bullish Outlook:
The price tested the Ascending Channel’s lower trendline as support and is now heading toward the 196.049 target.
Minor resistance at 195.714 may cause a pullback to 195.339 before the price resumes its move toward the 196.049 target.
Alternatively, if the price breaks below the channel’s lower trendline, it could lead to a decline towards 193.708.
Resistance Levels:
• 195.714 (Minor resistance)
• 196.049 (Primary target)
Support Levels:
• 195.339 (Expected pullback level)
• Lower trendline of the Ascending Channel (Current support)
• 193.708 (If the price breaks below the channel)
Happy Trading!
Trade closed: target reached
Target Reached: 195.714
Target Reached: 196.049
Target Reached: 195.339
Target Reached: Lower trendline of the Ascending Channel
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