THEFOREXADVENTURES | GBP/JPY 4-HOUR BULLISH OUTLOOK

前天

The GBP/JPY pair is currently trading in upward channel, indicating a potential bullish trend if the Upward Channel break then wait for bearish trend.

KEY OBSERVATIONS:
Upward Channel: The price is currently trading in upward channel at channel support area 194.00 level, confirming the bullish bias.
Supply Zone: This level represents a significant area of resistance, and a break above it could trigger further upside movement.
Ascending Channel: The pair is forming an ascending channel, suggesting a continuation of the bullish trend.

(1ST) POTENTIAL TRADE SETUP:
Long Position: Consider entering a long position at the Upward Channel Support 194.00 level, aiming for a target near the upper channel boundary near at supply zone.
Stop-Loss: A stop-loss order can be placed below the recent swing low192.500.

(2ND) POTENTIAL TRADE SETUP:
Short Position: Consider entering a short Position at retest level if the market break below this upward channel aiming target near at order block
Stop-Loss: A stop-loss order can be placed Above 100 pips from entry.

RISK MANAGEMENT:
Always use a stop-loss order to limit potential losses.
Consider position sizing techniques to manage risk effectively.

REMEMBER: Trading involves risks. Never invest more than you can afford to lose.

HAPPY TRADING!