GBP/JPY Price action analysis

FX:GBPJPY   British Pound / Japanese Yen
The 3-hour chart of GBP/JPY has current made a lower low which is resulted in a trend formation with downside bias.
We expect the pair to make a pullback to re-test its support and bears will be expected to enter the counter at that zone.
This can be also construed as head and shoulder formation,so a pullback upto the neckline can be expected.
The counter looks very weak and a strong selling pressure can be expected.


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