Last week marked the consolidation for the most active assets of March 1-15 (which is oil and gold). But next week has a lot to show, be ready to take part!
GBP/JPY reversed from resistance zone
2019-11-11 • Updated
- GBP/JPY reversed from resistance zone
- Next sell target - 150.00
GBP/JPY today reversed down from the resistance zone lying between the powerful resistance level 152.50 (which has been reversing the price from the middle of September) and the upper daily Bollinger Band. The downward reversal from this resistance zone stopped the earlier minor impulse wave (iii). With the overbought daily Stochastic - GBP/JPY is expected to correct down to the nearby support level 150.00 (which reversed the previous minor correction (ii) in December).
What happened? Japanese shares fell on Monday…
GBP/USD has managed to rise for the third trading day in a row including today’s Asian session, while the daily technical indicators are moving higher gradually.
This week, there are a few high-probability trade ideas I'd like to recommend to you. Trading these setups, be sure to implement a proper risk management approach.
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