Is GBP about to fall down?

Hi friends,

How is your day so far?

I hope you follow our weekly review trades, as they are going according to plan.

Today, I want to share with you interesting points about GBPJPY. I think, that if today ends bearish as it is now, the pair can push down to 119-120 area again.

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Let me explain why. Pay attention to this chart, its a daily chart:

The RSI crossed down, the MACD just turned bearish and the double top pattern is breaking down. Plus, the BB are breaking down as well. In my opinion, as long as the pair holds daily candle below the daily 20 MA it should go to 120 or even below by end of July.

Good luck

Yours,

Vladimir Ribakov

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.