What a dramatic move made by GBP to stay strong despite the monthly high resistance area. Here are some trade Ideas for GBPJPY.
1. A solid bearish candle formed or breaks below 188.247 can spark a seller's mood to continue the battle for a short position.
2. A failure to break through the support area 188.247 can cause the pair to swing up and wipe all short positions near the resistance high.
3. Short can be at least target towards 185.650 for a minimum as long as there is a lot of selling confirmation in the GBP market.
1. A solid bearish candle formed or breaks below 188.247 can spark a seller's mood to continue the battle for a short position.
2. A failure to break through the support area 188.247 can cause the pair to swing up and wipe all short positions near the resistance high.
3. Short can be at least target towards 185.650 for a minimum as long as there is a lot of selling confirmation in the GBP market.
Comment:
The positive data came out for GBP currency cause the pair to fly even higher, to short the pair, trader must wait at least a significant amount of bearish reaction at h4 timeframes