GBP/JPY Analysis - Rebound Strategy
We're currently seeing a potential rebound setup on the GBP/JPY pair with key levels to watch:
1️⃣ Short-term resistance around 194.800: After a significant upward movement, the price seems to face resistance here. A retracement to the support zone could be expected.
2️⃣ Support around 194.250: If a pullback occurs, this area could serve as a strong entry point for a bullish rebound, supported by the ascending trendline.
3️⃣ Potential targets: If the support holds, we may see a gradual rise toward resistance levels at 194.800 and 195.122.
📈 Bullish scenario: If the support holds, we could aim for higher levels as mentioned above.
🔻 Watch out for sellers: If the support breaks, we might see a decline toward the lower zone near 193.744.
1️⃣ Short-term resistance around 194.800: After a significant upward movement, the price seems to face resistance here. A retracement to the support zone could be expected.
2️⃣ Support around 194.250: If a pullback occurs, this area could serve as a strong entry point for a bullish rebound, supported by the ascending trendline.
3️⃣ Potential targets: If the support holds, we may see a gradual rise toward resistance levels at 194.800 and 195.122.
📈 Bullish scenario: If the support holds, we could aim for higher levels as mentioned above.
🔻 Watch out for sellers: If the support breaks, we might see a decline toward the lower zone near 193.744.
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