The GBP/JPY pair is in a strong downtrend in longer timeframes.
The bulls tried to put on a show but was bogged by a head and shoulder and then they tried to resilient effort to revamp a buy trend but the neckline of head shoulder is acting a strong resistance.
But, an ascending triangle is in the making just below the neckline. The breakout either above or below can trigger a momentum on either side.
The bulls tried to put on a show but was bogged by a head and shoulder and then they tried to resilient effort to revamp a buy trend but the neckline of head shoulder is acting a strong resistance.
But, an ascending triangle is in the making just below the neckline. The breakout either above or below can trigger a momentum on either side.
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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.