GBPJPY Short

Last week GPBJPY broke down below a cluster of supports and presented a roughly 350 pip selling opportunity. Since then, the Pound has rallied and created a bear flag on the Hourly chart (as shown above). The price is now sitting at a long term support that has now turned into resistance. Any rallies from here will be good opportunities to short this pair. Furthermore, a firm break below the bull flag and the pair will head first to 142 followed by 139.


Thank you for looking and best of luck!