GJ – Weak correction after a strong week

18 - GJ (H1-H4)

A very weak and conflicted price action today. Not a single currency managed to dominate, but GBP and JPY are the two strongest in the end.

After a strong bullish week on GJ, clearly visible on H4, it closed with a strong bearish day on Friday. The worst possible scenario for bulls is to see price action in their direction, but showing clear signs of struggle. Bulls did manage to raise the price by the end of the day, but given that this is the strongest move on the Market today, and comparing it with the prior bearish move on Friday, it looks like the bears are far from done in this pair.

The Market is already offering good selling price right now, it will be very interesting to watch how the traders bet their money tomorrow.

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