GBPJPY Price Action Analysis - bearish correction to be started
14 October 2015, 11:11
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W1 price is located to be above 200 SMA and above 100 SMA with the
ranging market condition within the primary bullish:
- The price is ranging within 195.86 key resistance level and 180.39 key support level.
- Descending triangle price pattern was formed by the price to be crossed for the bearish correction to be started.
- 'Reversal' support level is 174.86 located below 100 SMA and above 200 SMA on the border between the primary bearish and the primary bullish area of the chart.
- 'Reversal' resistance level is 195.86 key resistance located far above 100 SMA/200 SMA in the bullish area of the chart.
Trend:
