GBPJPY Under pressure as the Pound is Losing momentum!
We can see a change in structure to the downsides on all GBP pairs, so we follow the momentum within this trade as price as traded back into the FVG it left behind the impulsive bearish leg to the downside.
71:00% & 79.005 fib levels are both good entries.
Target 1 will be the previous low
Target 2 will be the -0.27% fib level.
risk management is key.
We can see a change in structure to the downsides on all GBP pairs, so we follow the momentum within this trade as price as traded back into the FVG it left behind the impulsive bearish leg to the downside.
71:00% & 79.005 fib levels are both good entries.
Target 1 will be the previous low
Target 2 will be the -0.27% fib level.
risk management is key.