GBPJPY Inverse Head & Shoulders Set-Up
GBPJPY has formed the Bullish Reversal Pattern, Inverse Head & Shoulders!Price has broken up above the Down-sloping Neckline to confirm the pattern.
Once the Break is Validated by retesting the Neckline and is Supported, the pattern could deliver a good buying opportunity around the 188.5 area to take up to the February Resistance Level and potentially further!
Fundamentally,
GBP has GDP on Thursday
**Beware of False Break creating a Bearish Trap. Watch for adequate Bullish Volume to Follow the Break and the Retest suggesting Bulls are interested!
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"An investment in knowledge will pay the best interest." - B. Franklin
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Novi's Trading Channel
t.me/+l3fTcsZu91ZiZDkx
Related publications
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.