gbpjpy analysis - 06 feb 2023
my insights are as follows
- on friday morning during the london open, market formed an inverse head and shoulder pattern at a significant support level
- market then went on to break that neckline and was bullish throughout there whole day on friday
- today it is currently in a range so i will be waiting for breakout either to the upside or downside but my bias is currently strongly bullish
- so if the 159.410 price is broken i will wait for a retest on lower timeframes then place my long trades and vice versa for a breakout to the downside
- on friday morning during the london open, market formed an inverse head and shoulder pattern at a significant support level
- market then went on to break that neckline and was bullish throughout there whole day on friday
- today it is currently in a range so i will be waiting for breakout either to the upside or downside but my bias is currently strongly bullish
- so if the 159.410 price is broken i will wait for a retest on lower timeframes then place my long trades and vice versa for a breakout to the downside
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