The GBP/JPY currency pair currently presents a bearish outlook, supported by the formation of a double top pattern, which is a classic signal of a potential trend reversal to the downside.
In addition, there is an early trendline shift indicating weakening bullish momentum and growing selling pressure. The current price structure suggests a likely short-term correction or pullback.
As long as the price remains below the resistance zone, the bearish scenario remains valid.
Recommendation:
- Sell GBP/JPY
- Entry: 199.300
- Take Profit 1: 198.900
- Take Profit 2: 198.500
- Stop Loss: 199.700
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