This is today’s GBP/JPY on a 4h chart. The pair has been descending fast, and it looks to me like a descending wedge has formed, plus a couble bottom. The bottom of the wedge (or a double bottom) is situated at a major resistance that could now be support.Im thinking we going to see a price go up? Could go down too so i prepared for both cases, but what do you think of the pair? Im using demo account so dont worry about me going busto,lol
cant insert a link before i have 5 posts.
So i need to post some sonsense, sorry.
phew, last of the sonsense series.
Better image is here.
Maybe, but if look on weekly timeframe, this pair also still has tendencies to bearish continue, movement this pair also has corelation with jpy, which usdjpy also have similar movement and on few month this pair still having tendencies to bearish long term, but on demo will not impact to emotion pressure although floating long time might not worried losing money