Sell GBPJPY Breakout

The GBP/JPY pair on the M30 timeframe presents a potential selling opportunity due to a recent downward breakout from a well-defined pattern.

Key Points:

Sell Entry: Consider entering a short position (selling) below the broken support level, ideally around 192.80. This offers an entry point close to the perceived shift in momentum.

Target Levels: Initial bearish targets lie at key levels below the breakout point:
190.96: This represents a potential support level based on previous price action.
190.26: This is a further extension of the downside target, based on the height of the recent price movement before the breakout.

Stop-Loss: To manage risk, place a stop-loss order above the broken support level, ideally around 193.00. This helps limit potential losses if the price unexpectedly reverses and breaks back upwards.

Thank you.

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