FX.co ★ ckerluke | GBP/JPY

Hello traders. I am currently analyzing the currency pair on the hourly chart. The hourly chart is currently favoring sellers. You can see the currency rate dropping from the level of 214.82. Yes, on Friday the currency rate fell from 214.82 to 209.58. However, after a brief pause, the currency rate started to rise. It is very clear on the chart that the rate rose to the level of 210.90. But it failed to break above this level and the currency rate turned downwards. At the moment, the currency rate is trading at 210.80. Now let's look at the Parabolic SAR indicator. This technical indicator looks good for entering a sell trade. I believe that after breaking below the level of 210.40, the currency rate will drop to 208.30.