GBPJPY - Trade Idea

Wait 5 sec.

GBPJPY - Trade IdeaGBP/JPYOANDA:GBPJPYJoseph2608Bias : bearish Market Structure ; GBPJPY was recently in a strong uptrend, creating a series of higher highs and higher lows. However, the most recent low has now been broken, which may indicate a potential change in market structure. Analysis ; I drew my fibonacci retracement from recent high to the recent low. With the break in structure, i am waiting for price to retrace into a key fibonacci level while the daily momentum continues to shift in favour of the downside. Plan; I am looking for selling opportunities if price retraces into the fibonacci zone and bearish momentum conitnues.