GBPJPY consolidating here at a noticeable 4 hour support/resistance zone. JPY appears strong this week and for that reason we may see a drop to the downside from the current consolidation area.
By observing the daily timeframe I can also see price has broken the ascending trendline and is holding well beneath.
I will be waiting to see how price action develops with this following the result of the Bank of England interest rate decision today, before considering an entry.
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