Hi Traders. Here we have
GBPJPY
We can see that the price recently touched the bottom of the trading channel at the beginning of March and bounced.
Currently we are at the 61.8 Fibo retracement level of the ast downwards pulse, I expect it to retrace in the short term to the ascending trend line. As we expect before, GBP has released some ugly data in the recent weeks and short term weakness is expected.
Be on the look out for the test of the ascending trend line as a break would send us back the bottom of the trading range.
GBPJPY
We can see that the price recently touched the bottom of the trading channel at the beginning of March and bounced. Currently we are at the 61.8 Fibo retracement level of the ast downwards pulse, I expect it to retrace in the short term to the ascending trend line. As we expect before, GBP has released some ugly data in the recent weeks and short term weakness is expected.
Be on the look out for the test of the ascending trend line as a break would send us back the bottom of the trading range.
Order cancelled:
Price broke up and did not retrace to our possible entry levels.