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GBPJPY Short Analysis

Short
FX:GBPJPY   Livre sterling / Yen japonais
I could kid you and write fancy set ups and possible reasons why I'm not uncertain about a possible sell limit. But it all boils down to the path of least resistance.

If the market is in a downtrend, there's tendency it'll keep breaking previous barriers and keep accelerating. So we want to be in sync with the market and wait for retracement at previous dynamic resistance, i.e, order block levels, for a perfect entry at 150.175.

While looking at the previous 3 daily bars, we can see the pair is comfortably in a downtrend, with a fractal, i.e, a lower high.



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