{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-bearish-pressure-intensifies-at-177-0600-level\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-bearish-pressure-intensifies-at-177-0600-level\/","headline":"GBPJPY Bearish Pressure Intensifies at 177.0600 Level","name":"GBPJPY Bearish Pressure Intensifies at 177.0600 Level","description":"GBPJPY Analysis: Market Faces Bearish Pressure as the Price Hits 177.0600 GBPJPY faces bearish pressure as the price hits 177.0600. Since the market\u2019s previous downward structure reversed, the GBPJPY has been climbing quickly. On the other hand, the RSI indicates that the market is already overpriced. A probable slump is indicated by the RSI (Relative […]","datePublished":"2023-06-17","dateModified":"2023-06-17","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/06\/2xpjlllu.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/06\/2xpjlllu.png","height":748,"width":1250},"url":"https:\/\/forexschoolonline.com\/gbpjpy-bearish-pressure-intensifies-at-177-0600-level\/","about":["Article","charts","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":265,"keywords":["Article","Daily Chart","GBPJPY GBP\/JPY","Market Anticipation","Price Action","Price Analysis","Price Chart","Technical Analysis","Trade idea"],"articleBody":"GBPJPY Analysis: Market Faces Bearish Pressure as the Price Hits 177.0600GBPJPY faces bearish pressure as the price hits 177.0600. Since the market\u2019s previous downward structure reversed, the GBPJPY has been climbing quickly. On the other hand, the RSI indicates that the market is already overpriced. A probable slump is indicated by the RSI (Relative Strength Index) being over the threshold of 70.0.GBPJPY Significant ZonesDemand Zones: 154.7100, 148.6300Supply Zones: 177.0600, 188.8100Before an upward trend took hold, an intermediate-term high formed at 172.1300. The bulls seized all market dominance as the price emerged from the undervalued phase. After reaching the demand level of 148.6300, the GBPJPY price skyrocketed to a swing high. The surge led to a fair value gap, constituting a sell-side inefficiency. The swing high was established at 172.1300, and GBPJPY started to decline. The slump persisted until it corrected the sell-side inefficiency.The underpriced zone was once again reached, according to the Relative Strength Index (RSI). The eager bulls promptly placed their buy orders in response, causing an increase in value as more buy orders came in. The upward expansion lacked energy until the diagonal resistance broke in May 2023. Since the diagonal resistance broke, the GBPJPY has been rising, with a recent low established at 167.8400.Market ExpectationThe RSI indicator also indicates that GBPJPY is quite expensive on the 4H chart. As it encounters bearish pressure at 177.0600, GBPJPY is likely to continue to fall from here.Note:\u00a0Forexschoolonline.com is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results."}