British Pound Faces Volatility Amid Economic UncertaintyThe British Pound (GBP) is experiencing heightened volatility amidst ongoing economic uncertainty. Factors such as Brexit negotiations, the resurgence of COVID-19, and inflationary pressures are contributing to fluctuations in the value of the pound. Investors are closely monitoring developments in trade negotiations between the UK and the EU, as well as the Bank of England's monetary policy decisions, for clues about the pound's future direction. With global economic conditions remaining uncertain, the British Pound is expected to continue facing volatility in the near term, posing challenges and opportunities for traders and investors alike.
Gpbjpyshort
GBP/JPY Analysis: Potential Retest and Downside MomentumGBP/JPY is currently trading at 189.962, showing signs of potential downside momentum. Here's a concise breakdown:
1. Technical Levels:
- Current Price: 189.962
- Retest Zone: Keep an eye on the 190.050 level for a possible retest.
- Downside Target: Targeting the demand zone around 188.884 for potential support.
2. Trade Setup:
- Short Opportunity: Consider short positions if price confirms resistance near 190.050.
- Risk Management: Set stop-loss orders above the retest level to manage risk.
- Profit Target: Aim for the demand zone at 188.884, adjusting based on price action.
3. Market Context:
- Monitor GBP and JPY-related news for potential catalysts driving price action.
- Assess broader market sentiment and risk appetite for additional insights.
4. Trading Approach:
- Exercise patience and wait for clear confirmation before entering trades.
- Stick to your trading plan and remain disciplined throughout the trade.
5. Adaptation:
- Stay flexible and adjust your strategy as new information becomes available.
- Be prepared to reassess if price action deviates from the anticipated scenario.
---
Please like comment and follow bundle of thanks for your love and support.
GBP-USDHELLO !!!!!!!!!!! A great great wave counter can save you! The last correction wave 2 and the beginning of the big wave 3... Go read a book and don't let anyone make you a fool...
Everything goes with the program and even those who have million dollar accounts cannot make any changes in it :))) good LUCK
GBPJPY Short Confluences for this entry:
- Double top formation indicating sell off
- Neckline has acted as both support and resistance in the past so can expect price to break + retest then meltdown into swing low zone
- Current candlestick has large upper wick indicating that the sellers have taken control of the market
1:4RR let's see how it develops.
Possibly GJ Sell GJ is rallying to the down side to possibly fill March's bearish wick. GJ in the next week or two could push bullish possibly to 130.750 area, to retrace down to create a new weekly lower wick. We could be expecting this in the next week or two, depending on how the pound and yen pair react to market movement. Potentially catching 1000pips to the downside to 128.567 or further down. Control risk management and have a good week trading!
GBPJPY warm RED winterGBPJPY confirmed yesterday the down trend direction along with other pound pairs
Go short till
TP 135.500
TP 131
NOTE: 140.100 <-- is a magic number , the price will go back here AFTER BREAKING 138.800
As explained closing below 135.444 call for the next block to reverse from there starting the uptrend
GBPJPY PentagramThe pentagram allows you to predict the appearance of reference points, as well as determine significant levels inside model. Sideways movement, a rebound from the level and a breakdown upon re-entry or change in direction of movement can happen on their horizontal projections.
The blue line is the diagonal level of support/resistance.
Sell from the top levels (143.53/143.87) to the targets at the bottom (141.05/141.80), buy from the targets at the bottom towards the top levels.