On the GBPJPY daily chart, we can see that the pair is extending lower after a bearish inside bar yesterday and is breaking below the last bearish horizontal resistance 145.280 level. The first downside target, which can be measured by the downside Pitchfork channel, is 142 level also the median line and also a 100% Fibonacci extension
Note: look for the short trade entries with the SL above the 145 level in the case of a pullback.
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