GBPJPY → Traders increase short, preparing for a fall

8月26日

GBPJPY is unable to continue the uptrend. The price is breaking the price channel support, and the parabolic curvature can be interpreted as a set of short positions.



The Japanese Yen continues to strengthen. GBP is forming a small correction since the Open of the session, and the Japnese national currency is accelerating northward.
The parabolic curvature that is forming on the chart can be explained as a set or increase of short positions by large players. Such a maneuver indicates a possible strong and prolonged decline in prices. But, the focus is on the sideways range 192 - 189. Despite the fact that the price has left the channel, it is still in the range and the mentioned support restrains the market from falling.

Resistance levels: 190.97, 192, MA-50
Support levels: 189

If the bears manage to break 189 and consolidate below, it will be the reason for the continuation of the decline to the global low. On D1 the price is pushing away from the strong zone and also shows bearish preconditions

Rate, share your opinion and questions, let's discuss what's going on with ★ GBPJPY ;)

Regards R. Linda!

8月27日

交易進行

Resistance 192 still holds the currency pair.
Trading inside the range continues
We are waiting for a breakdown of the support

8月28日

交易進行

It is possible to form a false breakout before further realization of the scenario

8月30日

交易進行

If the cotton pair consolidates below 190.97, we can get ready for a reversal and price decline.
Bears continue to hold the resistance at 192.0

9月4日

交易進行

A reaction to a false breakout of resistance is being formed

9月5日

交易進行

Consolidation below 188.77 would be a good signal of willingness to continue to fall and move towards our target....

9月5日

交易進行

Consolidation is formed below the local minimum of 189.6

9月7日

交易進行

9月9日

交易進行

Continuing to hold

9月11日

交易進行

9月13日

交易進行