GBPJPY 1hour Analysis December 9th, 2020
Price is rejecting off the 140.30 zone with strong bearish pressure, but price continues to make HLs.
Trade Scenario 1: Bullish - We would like to see price retest the 139.30 zone again to form a bullish structure/double bottom. Enter on bullish engulfing/variations.
Trade Scenario 2: Bearish - We need to see price break below 139/.30 with conviction. We will then look to enter on a retrace back to these levels.
Trade Scenario 1: Bullish - We would like to see price retest the 139.30 zone again to form a bullish structure/double bottom. Enter on bullish engulfing/variations.
Trade Scenario 2: Bearish - We need to see price break below 139/.30 with conviction. We will then look to enter on a retrace back to these levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.