GBP/JPT Intraday Bearish
Morning Traders!
On wednesday we saw how the pair broke a major H1 support. The price has retested it and bounced from there to the next support level.
Today the price is testing a H1 resistance (arround 149,200) that is coincident with the 61.8 % of fibonacci retracement of the las bearish impulse. I expect the price to bounce from that resistance level to reach the next support level (arround 148,500).
As the price is doing consecutives lower highs we could see a break out of that support level.
Good Trading Traders!
On wednesday we saw how the pair broke a major H1 support. The price has retested it and bounced from there to the next support level.
Today the price is testing a H1 resistance (arround 149,200) that is coincident with the 61.8 % of fibonacci retracement of the las bearish impulse. I expect the price to bounce from that resistance level to reach the next support level (arround 148,500).
As the price is doing consecutives lower highs we could see a break out of that support level.
Good Trading Traders!
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