GBPJPY a "Go" to new high: GoNoGo Charts
This currency pair has broken out of the GoNoGo Squeeze and established a “Go” trend.
After a few months of sideways consolidation a lack of momentum led to the climbing squeeze grid that we saw recently (grey arrow, lower panel).
The “Go” in price has made a higher high and looks set to challenge prior highs from earlier in the chart.
The GoNoGo Oscillator does show momentum at an extreme however, and so in the near term, there could be a countertrend reaction.
After a few months of sideways consolidation a lack of momentum led to the climbing squeeze grid that we saw recently (grey arrow, lower panel).
The “Go” in price has made a higher high and looks set to challenge prior highs from earlier in the chart.
The GoNoGo Oscillator does show momentum at an extreme however, and so in the near term, there could be a countertrend reaction.
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