GBP/JPY 500+ PIPS IN SEELING ZONE AT 196.70

The GBP/JPY currency pair is displaying potential for a bearish movement, with a targeted selling zone identified at 196.70. This zone represents a level where sellers may look to enter the market, anticipating downward pressure on the exchange rate.

Moreover, technical analysis suggests several potential targets for this bearish movement. The first target is set at 193.00, followed by a secondary target at 191.00. These targets are derived from an assessment of various technical indicators, chart patterns, and market dynamics, indicating potential downward movement in the exchange rate towards these levels.

Traders and investors should closely monitor market conditions and price action around the identified selling zone, looking for confirmation of bearish momentum before entering positions. Additionally, risk management strategies should be implemented to mitigate potential losses in case market conditions deviate from the anticipated bearish scenario.

In summary, the analysis points towards a bearish outlook for GBP/JPY, with a targeted selling zone at 196.70 and technical targets set at 193.00 and 191.00, subject to confirmation of downward momentum.

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gbpjpy complate their retracement area now maked strong selling candles
wait for our target

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