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07.05.202109:47 : Daily Video Analysis: GBPJPY facing bearish pressure, potential for a further drop!

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Today we take a look at GBPJPY. Combining advanced technical analysis methods such as Fibonacci confluence, correlation, market structure, oscillators and demand/supply zones, we identify high probability trading setups. Price is approaching sell entry level, which is in line with descending trendline resistance, where we could see a reversal and further drop towards take profit level, in line with 78.6% Fibonacci retracement and ascending trendline support. MACD is also holding under the 0 line, in line with our bearish bias.

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: Dean Leo
© 2007-2021

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USD/CAD
USDCAD 1,33054,
:
06:56 2020-02-26 UTC--5
23548
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