GBPJPY Bull pattern

It looks to be an excellent long set up. The up trending trend line may hold the price and work as a level of support. A bullish reversal pattern may attract the buyers to go long from the marked support zone.

This pair is very rangey at the moment, hard to analyse.

However, we’ve just had a big impulse to the downside, possible long term continuation?

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The pair seems to have found its resistance at a down trending trend line. The price had rejections twice at the trend line. Thus, a bearish reversal pattern may attract the sellers to go short from there.

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Agreed, has given it a strong momentum push

Price is being slowly squeezed at the moment.
Will be scalping from the trend lines and waiting for the proper breakout.

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The price seems to have found its support at 163.00. However, the buyers may want to wait for the price to make a breakout at the down trending trend line to go long in the pair. The pair may get choppy in the daily chart.

Good strategy here. :+1:

Like the idea of this ill definitely be looking forward to any updates

The pair made a strong bearish breakout in the H4 chart. The price has been heading towards the South. We may see more bearish moves in the next week.

As anticipated, the pair made a strong bearish move to begin its week. The sellers may keep their eyes on the pair to go short from the value areas.

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Noticed that too ill be looking at the HTFs for this week coming

The H4 chart shows that the pair made a corrective bullish move last week. It seems to have found its resistance where the price had rejection twice. The pair may get bearish next week.

A lot of pairs not in nice places at the moment. But we are still holding a couple of profitable positions. Head over and watch this week’s video now. Like and a subscribe would be appreciated also :wink:

Nothing good to go on for this pair yet. Better to wait for clear direction like you say, it’s making it’s way back down but just need to be patient. Nice video btw, really helpful.

As expected, the pair has been bearish today so far. It may make some bullish correction. The sellers may look to go short from the value areas. I look forward to going short in the pair as well.

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Good call mate

The pair had a strong bounce at 160.000 level. The level of 163.550 may work as a level of resistance. Traders may want to wait for the price to reach at the value areas and produce good signal to trade in the pair.

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Massive psychological level. Wonder if it will keep respecting it

The price has been down trending by obeying a descending channel. However, the buyers may keep their eyes on the pair either to make a bullish breakout at the channel or produces a bullish reversal pattern around 160.350 to go long.

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What bullish markers are you using for that zone to be a reversal?