GBPJPY Going Down

#trading_idea #GBPJPY 💡

#GBPJPY - Downwards Channel

On the 1H chart, the pair is in a descending channel with strong bearish momentum, testing support around 185.15. The price is near the lower Bollinger Band, suggesting oversold conditions, while the MACD remains below the signal line, confirming bearish pressure but with signs of weakening. The Bull Bear Power indicator is negative, indicating sellers' control. Recent bearish candles with upper wicks reflect rejection at higher levels. A break below 185.15 could push the price toward 184.00, while a move above 186.00 may signal a potential reversal.

Possible scenarios:

🔽If the price breaks below 185.15, a further decline toward 184.00 is likely.

🔼Alternatively, a bounce from the current level could push the price towards 186.00 for a potential retest of the upper channel boundary.


😎 🔖 Click "👍" if you think the price will rise and "👎" if you think it will slide back.