The market bounced off the resistance zone.
GBPJPY
broke the support level that was tested twice. The market is updating its swing lows on the 1H timeframe. It gained bearish momentum. On the daily timeframe, price action formed tweezer tops, which is a reversal cnadlestick pattern. Usually markets pull back on Friday after a trending week; therefore, I expect it to move down from the resistance zone and potentially retest the channel border. My target is 189.000 support level.
Traders, if you like this idea or have your own opinion on this matter, write in the comments. I will be glad 👩💻
GBPJPY
broke the support level that was tested twice. The market is updating its swing lows on the 1H timeframe. It gained bearish momentum. On the daily timeframe, price action formed tweezer tops, which is a reversal cnadlestick pattern. Usually markets pull back on Friday after a trending week; therefore, I expect it to move down from the resistance zone and potentially retest the channel border. My target is 189.000 support level. 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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