The pair is about to form an inverted head and shoulder formation with neckline resistance at 186.06 levels.
GBP/USD is repeatedly finding bids around hourly 50-MA and appears poised to form its own version of inverted head and shoulder, however, Yellen could kill the formation.
Hence, long GBP/JPY appears more attractive.
trade - Long GBP/JPY @ 185.60 Target 186.06, 186.53 stop loss 185.10
GBP/USD is repeatedly finding bids around hourly 50-MA and appears poised to form its own version of inverted head and shoulder, however, Yellen could kill the formation.
Hence, long GBP/JPY appears more attractive.
trade - Long GBP/JPY @ 185.60 Target 186.06, 186.53 stop loss 185.10
Trade closed: stop reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.