GBPJPY , H4 | Bearish Dip


Type: Bearish ReversalKey Levels:Resistance: 158.75Pivot: 158.107Support: 155.964Preferred Case:Prices are at a daily Pivot. We see the potential for a pullback from our sell entry at 158.107 in line with 100% Fibonacci extension and 100% Fibonacci retracement towards our 1st support at 155.964 in line with 23.6% Fibonacci retracement. RSI is on bearish momentum.Alternative Scenario:Alternatively prices may climb towards our 1st resistance at 158.75 in line with 200% Fibonacci Projection.

Source: Tickmill

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