Forex

The GBPJPY forms new bearish channel – Analysis – 26-10-2020

2020-10-26 05:38:39 GMT (Economies.com)

The GBPJPY pair started to rebound negatively since last Friday, affected by the new bearish channel’s resistance at 137.30, to notice crawling towards 50% Fibonacci correction level at 136.45.

 

The stability of the mentioned resistance in addition to stochastic continuous negative momentum signals support the continuation of the negativity, to expect moving towards 135.60 and 135.10 levels initially.

 

The expected trading range for today is between 137.30 and 135.60

 

The expected trend for today: Bearish

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