Here we see GBPJPY, after a tumbling start of the week across the board for GBP pairs we see the mid-week reversal kicking in.
We smashed through 133.500 so this is the first point of contact for our retest, followed by further downside momentum. Targeting 131.000 (250) pips, I believe when this point is broken we can be going to the lows of 130.000 (350) pips.
Upon 133.500 I’ll be updating to find short positions depending on our candlestick rejections.
Short choppy pullbacks for the £ followed with smooth declines expected up until October 31st. Parliament is in recess up until the start of September but keep your ears open for any Brexit news as we are getting to the penultimate stages now, with a No Deal continuing to dominate the headlines I see the £ reaching new lows.
Happy Trading.
We smashed through 133.500 so this is the first point of contact for our retest, followed by further downside momentum. Targeting 131.000 (250) pips, I believe when this point is broken we can be going to the lows of 130.000 (350) pips.
Upon 133.500 I’ll be updating to find short positions depending on our candlestick rejections.
Short choppy pullbacks for the £ followed with smooth declines expected up until October 31st. Parliament is in recess up until the start of September but keep your ears open for any Brexit news as we are getting to the penultimate stages now, with a No Deal continuing to dominate the headlines I see the £ reaching new lows.
Happy Trading.