GBPJPY potential for bounce| 1st July 2021

GBPJPY potential for bounce| 1st July 2021 for FX:GBPJPY by FXCM

GBPJPY potential for bounce| 1st July 2021



GBPJPY broke out of descending trendline resistance and is currently taking support on horizontal swing low support in line with 38.2% Fibonacci retracement and 78.6% Fibonacci extension . Prices might push up towards horizontal swing high resistance in line with 78.6% Fibonacci extension and 61.8% Fibonacci retracement . If prices push down, prices might take support on horizontal swing low support in line with 161.8% Fibonacci extension and 78.6% Fibonacci retracement . 34 EMA is also below prices, showing a bullish pressure for prices.

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