GBP / JPY:
Our expectations: Medium-term downward trend, loewr tops and bottoms. The price has reached levels of diagonal and horizontal resistance where we can look for new short positions.
Alternative Scenario: If the price passes above 38.2% on Fibo, a breakthrough in the downward trend and a new upward movement is possible.
Comment: Price of diagonal resistance
Fibonacci: Correction to 38.2%
50/200MA: 50 crosses 200 from top to bottom, price below 200MA - possible decrease
Price action: inside bar under 200MA - negative signal
CCI (50): will confirm the short when passing below 0
SL: 144,315
Trader I. Ivanov
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