GBPJPY Turning sideways until 168.00 breaks.

The pair has been consolidating the last 2 weeks after an impressive late March rally. On the 1D time-frame based on both the RSI and MACD indicators, is appears that GBPJPY is entering a consolidation phase that will get invalidated only if the 2.5 or 3.5 Fibonacci extension levels break.

The long-term trend remains a Channel Up ever since the March 2020 COVID melt-down and the application of the Fibonacci Channel, illustrates its potential.


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