Oil prices will likely remain elevated as there are no signs that the Middle East tensions will ease anytime soon.
GBP/JPY reversed from resistance zone
- GBP/JPY reversed from resistance zone
- Next sell target - 149.45
GBP/JPY recently reversed down with the daily Japanese candlesticks reversal pattern Evening Star from the resistance zone lying between the pivotal resistance level 152.80 (which has been reversing the price from the end of September), upper résistance trendline of the wide daily up channel from last year and upper daily Bollinger Band. The downward reversal from this resistance zone stopped the previous minor impulse wave (iii). GBP/JPY is expected to fall to the next sell target at the next support level 149.45 (monthly low from December).
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