{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/gbpjpy-sinks-lower-as-the-price-enters-the-discount-zone\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/gbpjpy-sinks-lower-as-the-price-enters-the-discount-zone\/","headline":"GBPJPY Sinks Lower As The Price Enters The Discount Zone","name":"GBPJPY Sinks Lower As The Price Enters The Discount Zone","description":"GBPJPY Analysis: Market Sinks Lower As The Price Enters The Discount Zone GBPJPY sinks lower as the price enters the discount zone. Despite the strong influence of the bulls, the bears have taken control of the market. However, GBPJPY may struggle to turn bearish on the daily chart due to the overall order flow. The […]","datePublished":"2023-07-28","dateModified":"2023-07-28","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\/07\/1Uh5VJMz.png","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2023\/07\/1Uh5VJMz.png","height":738,"width":1195},"url":"https:\/\/forexschoolonline.com\/gbpjpy-sinks-lower-as-the-price-enters-the-discount-zone\/","about":["Article","FX Technical Analysis","GBP\/JPY","GBPJPY","Price Action Charts in Focus","Trade Idea","Trade Setups"],"wordCount":310,"keywords":["Daily Chart","Forex","forex price action","FX Technical Analysis","GBP\/JPY","GBPJPY","Market Anticipation","Market Expectation","Price Action","Technical Analysis"],"articleBody":"GBPJPY Analysis: Market Sinks Lower As The Price Enters The Discount ZoneGBPJPY sinks lower as the price enters the discount zone. Despite the strong influence of the bulls, the bears have taken control of the market. However, GBPJPY may struggle to turn bearish on the daily chart due to the overall order flow. The rising trend is likely to resume once the price falls into the discount range.GBPJPY Significant ZonesDemand Zones: 173.190, 155.350Supply Zones: 184.010, 188.810GBPJPY was on declining before the Market Structure Shift (MSS) in February 2023. Since the market structure shifted, the order flow on the daily chart has consistently been bullish. After several downturns, the retraction at the 155.350 support level signaled a change in the market structure. The price plunged into a discount zone after the market structure changed to release sell-side liquidity. The market has been rising since the liquidity grab by the sell side.Following the sell-side liquidity grab, GBPJPY expands exuberantly in an upward direction. According to the Moving Average Convergence Divergence (MACD), Based on recent indicators, GBPJPY appears to be dominated by bullish activity. The MACD has remained above the zero line for over four months, while the daily chart indicates a bullish market according to the MA Cross. However, a retracement at the 184.010 price level resulted in a downward trend and entry into the discount zone.Market ExpectationThe price level of 184.010 experienced a reversal, leading to the formation of a bearish order block. The second wave of the downward trend on the four-hour chart has begun because of a return to the bearish order block. GBPJPY is anticipated to keep falling until the price reaches the discount region. Note:\u00a0Forexschoolonline.com\u00a0is 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."}