GBPJPY: ⬇️ Sell
- GBPJPY reversed from the resistance area
- Likely to fall to support level 193.65
GBPJPY currency pair recently reversed down from the resistance area between the pivotal resistance level 196.00 (which has been reversing the price from March) and the upper daily Bollinger Band.
The downward reversal from this resistance zone will most likely form the daily Japanese candlesticks reversal pattern Bearish Engulfing – if the price closes today near the current levels.
Given the overbought daily Stochastic, the GBPJPY currency pair can be expected to fall to the next support level at 193.65 (the low of the previous minor correction ii).
 and the upper daily Bollinger Band.){kind=link}