FX.co ★ ckerluke | GBP/JPY

Hello traders. GBP/JPY. Pound/yen has been quite active in the south direction today, and the bearish sentiment is still strong, so I continue to look towards the south as a more priority option for myself. On the hourly chart, the indicators have shown a sell signal, but it has not been activated yet. However, the possibility of heading south exists, so I am considering the opportunity to open short positions with an approximate target of 210.40-50 in the local perspective. On the 4-hour chart, the indicators do not show anything specific, the sell signal was canceled, but the buy signal has not been formed either, and the pair has returned to the bearish zone of the Bollinger Band channel. If it consolidates here, there is a chance of moving down in the medium term. However, a bullish divergence is forming on the MACD, hinting at a reversal. This means that a double bottom may form, so I am currently only looking towards the south in the local perspective.