💱GBPJPY - Support retest on the background of bullish trend
GBPJPY is forming an ascending price channel, but at the same time we see a reversal pattern forming and a retest of trend support.
TA on the high timeframe:
1) Price breaks the resistance at 184.76 and forms a local high of 186.764
2) The liquidity area forms a density from which the price bounces and tests the key resistance
TA on the low timeframe:
1) An ascending price channel is formed
2) The price bounces from the trend support and forms a retracement of 184.800.
3) If the level is broken, bullish momentum is possible
4) If the price does not break the resistance, returns to the support retest, then we should wait for the support breakout for further sales
Key resistance📈: 184.800
Key support📉: 184.47
TA on the high timeframe:
1) Price breaks the resistance at 184.76 and forms a local high of 186.764
2) The liquidity area forms a density from which the price bounces and tests the key resistance
TA on the low timeframe:
1) An ascending price channel is formed
2) The price bounces from the trend support and forms a retracement of 184.800.
3) If the level is broken, bullish momentum is possible
4) If the price does not break the resistance, returns to the support retest, then we should wait for the support breakout for further sales
Key resistance📈: 184.800
Key support📉: 184.47
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