There was a notable reversal in the stock market on Wednesday. Have you noticed the reversal chart patterns?
GBP/JPY falling inside minor impulse wave 3
- GBP/JPY falling inside minor impulse wave 3
- Next sell target - 145.30
GBP/JPY continues to fall inside the minor impulse wave 3, which previously broke through the support area lying between the key support level 150.70 (which stopped the previous minor impulse wave 1 in April, as can be seen below) and the support trendline of the daily up channel from March (which enclosed the previous correction (2)). GBP/JPY is expected to fall toward the next sell target at the next support level 145.30 (low of wave (1)).
The USD made decisive moves mostly with the exotic currencies - let's have a look to prepare for new market entries.
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