GBP/JPY Short- Meltdown into 140.00s

Based on Weekly Price action for GBP/JPY we can see that This pair has broken a weekly Major Trendline and Retested the Area with some Choppy Consolidation and Rejection. A 61.8% rejection is also in line with Key weekly levels that also supports the idea that the -27% extension passed 140.00s will be reached.

A quick glance over at the BXY will also show some Pound Weakness as well as the Pound Drifts further and further down to key monthly Levels.

I will be swing Trading this Trade hopefully down into the 140.00 with Possible Scale in Oppurtunities along the way.

#pound #britishpound #gbpjpy