GBP/JPY: strong negative sentiment

GBP / JPY: 4H chart, trend bearish, short-term movement its also short

Break triangle retest and new bearish momentum with the potential to decrease

price action: Three Black Crowes- trend confirming formation (three consecutive black bar)

Indicators: CCI (50) less than -100: area where possible sharp decreases

CCI (14) passes under -100 – signal a possible short

RSI e below 50

Possible sell after a slight correction to 158.36 in point to lower risk and less stop. SL: 158.69

Alternative scenario:

Only the return of the price above 159.64 will negate the negative formation

It is also possible to sell  from current levels, but stops should be above the bar and the position will be risky

 Varchev Traders

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