forexlyfeanalysis
Short

GBP/JPY SHORT & BEAR PLAY

FX:GBPJPY   British Pound / Japanese Yen
GBP/JPY has been on a long term uptrend channel making higher highs and higher lows, however the bulls control of the market is running out of steam and bears have successfully broken out of the channel. The extra sell confirmations were the double top rejections and the retest of the trendline with resulting Long bearish 200 EMA candle cross-over to the downside and daily pinbar close. Fundamentally GBP has been under lots of pressure, all 8 Brexit proposals submitted by Theresa May (British PM) was rejected by the House, this has resulted in investor uncertainty and doubts in the next move for a completed Brexit soon. Technically and Fundamentally GBP is weak and bears have control.
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