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- GBP/JPY Price Analysis: Bears eye a downside continuation below trendline support
GBP/JPY Price Analysis: Bears eye a downside continuation below trendline support
- GBP/JPY bulls come up to test critical resistance.
- The bears are on the lookout for a downside continuation for the week ahead.
GBP/JPY is testing a key resistance area following a break of daily structure as the following will illustrate:
GBP/JPY daily charts
As illustrated on the daily charts above, there is a break in market structure taking place and a correction back into the neckline of the M-formation that would be expected to act as resistance. A move back below the trendline support will possibly see a downside continuation taking place for the week ahead.
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