GBPJPY: ⬇️ Sell
– GBPJPY reversed from resistance zone
– Likely to fall to support level 193.85
GBPJPY currency pair recently reversed down from the resistance zone between the strong resistance level 199.000 (which has been reversing the price from last October) and the upper weekly Bollinger Band.
The downward reversal from this resistance zone stopped the C-wave of the previous ABC correction (2) from April.
Given the strength of the resistance level 199.000 and the overbought weekly Stochastic GBPJPY currency pair can be expected to fall to the next support level 193.85.
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