Chart of the Day: GBP/JPY a potential short setup

British pounds mostly affected by headline news surrounding Brexit have since been a volatile currency.

Look at the GBP/JPY pair 4 hours chart below, the pair has being trading in a range from the November 2018. This level is termed as a balancing area after a sharp downtrend.

The pair is now trading below the Moving Averages 100, 34 and 20. A close below 144.00 support would see the pair continued its downtrend to possibly find another round of support at 142.51

About Adeshina Adetunji 14 Articles
Adeshina Adetunji, CFTe MSTA(UK) Managing Partner/Head Coach,Tredonomics Partners Limited. He is President, Traders, Investors & Analysts (TIA) MEETUP. Adeshina is a Certified Financial Technical Analysts (CFTe)

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