The GBP/JPY currency pair is currently expected to continue its downward trend. This bearish outlook is largely driven by a strengthening Japanese Yen, which is gaining momentum as global economic uncertainty prompts investors to seek safer assets.
From a technical perspective, the presence of a swing high and a double top pattern further reinforces the potential for a price decline. These formations are commonly viewed as early indicators of bearish reversals in price action.
- Recommendation: Sell GBP/JPY
- Entry: 194.250
- Take Profit 1: 193.850
- Take Profit 2: 193.450
- Stop Loss: 194.650
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