After reaching a low of 188, GBP/JPY reversed to the upside in a normal corrective move and found resistance near the 192 zone. A subsequent drop followed, but instead of resuming its downtrend, the pair began consolidating within a range.
The emerging pattern, while not perfect, resembles an inverse Head & Shoulders. A break above the neckline would confirm this formation and pave the way for further gains, potentially targeting the 195 resistance level.
I remain bullish on GBP/JPY as long as the pair stays above the recent consolidation support.
The emerging pattern, while not perfect, resembles an inverse Head & Shoulders. A break above the neckline would confirm this formation and pave the way for further gains, potentially targeting the 195 resistance level.
I remain bullish on GBP/JPY as long as the pair stays above the recent consolidation support.
Trade active
After an up break and confirmation, GBPJPY is testing once more yesterday's high.A break above exposes my target at 195
tradingview.com/chart/GfczDMMy/
Trade closed: target reached
195 target reached
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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.