I have been following babypips with interest for some time but this is my first post. Well done babypips for such an informative website
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Hi Pipschick - I'm holding a large long from the 200 area. I may be wrong, but I think that we'll see a huge breakout North with no looking back over the next 24hrs due to results from the G7 meeting. From their (G7) statements I believe Central Banks are going to intervene in the currency market tonight with the sole intention of starting a strong Dollar rally.
I've looked at the head and sholders formation, but the close of Friday was showing a bear triangle which should have, but didn't materialise in a further drop South before close on the last 4hr candle.
I think USD/JPY will retest and break +102ish again, bringing GBP/JPY with it rapidly. It would be nice to see +205 by close Tuesday
I am sure all technicals will go out the window this week as the Central Banks play with the market - (BUT of course I could be wrong!
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I will try and post a chart later.