GBPJPY Looks Promising for More Weakness, while EURUSD and GBPUSD Look Slow
In risk-off mode I am still observing potential xxx/Jpy pairs for shorts. The one that I like so far is GBPJPY but am still waiting on another push up before it may drop. 105.92 looks like a nice resistance.
In this environment I would expect EUR to be in much better shape, but it’s not. Pair is stuck in a bigger trading range, so it remains sideways and even bearish for a very near-term as we see wave c in play for wave c) into 1.2300 area. Similar thing is with GBPUSD which is now in wave B) of wave four.
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