Lingrid

Lingrid | GBPJPY bearish DIVERGENCE at the RESISTANCE zone

Short
FX:GBPJPY   British Pound / Japanese Yen
The price perfectly fulfilled my last idea. It hit the target level. GBPJPY market has rolled back from the resistance zone, sending it plummeting towards new lows. As the 1H chart shows, the market is updating its swing lows and gaining bearish momentum. Meanwhile, the daily chart is flashing warning signs of a potential reversal, with a long-tailed bar forming on price action. Adding to this bearish sentiment is a bearish divergence, which suggests that a pullback is possible. Therefore, I expect the market will continue to move downward from the resistance zone at 200, potentially breaking through the channel's border and sending it lower prices. My target is support level at 198.000


Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩‍💻

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