GBPJPY 1H Analysis, 30th June 2021
Daily Trend : Bullish
4H Trend : Bearish
Trade scenario 1 :
We could spot a descending channel in 1H timeframe which has a big probability to break the upper trendline and push to the upside. But i'd advice be conservative by waiting price to break the trendline and a retest to confirm that buyer is in control
Trade scenario 2 :
To consider that bearish trend is still, we need to see a break below 153.000 then we could put short position
4H Trend : Bearish
Trade scenario 1 :
We could spot a descending channel in 1H timeframe which has a big probability to break the upper trendline and push to the upside. But i'd advice be conservative by waiting price to break the trendline and a retest to confirm that buyer is in control
Trade scenario 2 :
To consider that bearish trend is still, we need to see a break below 153.000 then we could put short position
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