The GBPJPY breaks key support – Analysis – 19-3-2020
Economies.com
2020-03-19 08:02AM UTC
The GBPJPY pair faced strong negative pressures yesterday, which forced the price to resume the negative attack, noticing surpassing historical support at 126.65 to move into new negative track and threats any chance to decrease the previously achieved losses.
This factor along with the stability below 126.65 level confirm the price preparation to form new negative trades that might push the price to reach 123.30, while rallying above the current obstacle and holding above it will increase the chances of beginning the positive correction, to target 128.80 followed by 130.65 levels in the upcoming period.
The expected trading range for today is between 126.65 and 123.30
The expected trend for today: Bearish
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