Let’s take a look at the GBP/JPY hourly chart.
We’ve seen a nice run down and there seems to be more potential bearish movement ahead in the longer term.
However, look for a potential retracement up to 121.75 and above. Once the retracement completes, look for a potential continuation of the movement down to test the 120.50 level and below.
Good luck with trading and be sure to apply your money management.
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