Hello everyone.
Let’s take a look at a downward trending market – the GBP/JPY hourly chart.
You can see the downward channel we’re in and it seems there is still enough power to keep the trend continuing down. However, a clear indicator would be a break of one of the downward trend lines.
Another line which comes into play is the horizontal trend line from the previous lows spanning from May – September. Watch for these lines to act as a loose support target.
Good luck.
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