GBPJPY broke key support level 138.00

• GBPJPY broke key support level 138.00
• Further losses are likely

GBPJPY recently broke the key support level 138.00 (which reversed the price a few times from the start of January).

The breakout of the support level 138.00 should accelerate the active impulse wave (v) – which started earlier with the daily Shooting Star from the key resistance level 141.34.

GBPJPY is expected to fall further and retest the next support level 136.00 (target for the completion of the active impulse wave (v)).