Lingrid | GBPJPY potential Short-Term RetracementFX:GBPJPY broke above the March high but immediately reversed, forming a fake breakout paired with bearish divergence. This signals potential exhaustion as the pair sits near the upper boundary of the resistance zone. A pullback toward 194.200 or deeper into the 192 area appears increasingly likely.
📌 Key Levels
Support level: 192.338
Invalidation level: Above 196.500
Target area: 194.200 and possibly 192.338
⚠️ Risks
Continued bullish pressure could invalidate the bearish reversal setup
A sustained hold above 196 would point to trend continuation toward 198+
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