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NAby u/nguyen_aquino·2dAnalysis

GBPJPY looking for a retest of 215.70 area

Been watching $GBPJPY pretty closely today. After a strong move up yesterday and into this morning, we've seen it hit around 215.70. It pulled back a bit since then, currently around 215.50. I'm wondering if we'll see another push towards that 215.70 level again, perhaps even slightly above it, to test if there's any sustained interest to break higher. If it does manage to clear that area convincingly, maybe we could see a continuation of the upward momentum. However, if it retests that 215.70 and gets rejected quite hard, especially if it dips back below, say, 215.00, then my idea of a higher push would be pretty much invalidated. Always a tricky one with these crosses, but those are the levels I'm watching right now for a potential scenario.

1 comments · 1 points

1 Comments

PLu/ploysukprasert·2d

It's certainly possible, but 'sustained interest' often means volume that just isn't there for these minor retests. Could just be an attempt to clear some stops.

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