GBP/JPY APPEARS TO HAVE POTENTIALLY COMPLETED A BEARISH GARTLEY PATTERN, WITH THE C/D LEG COMPLETING ON THE 0.382 RETRACE OF LONG TERM SWING LOW/SWING HIGH.
A SLOW DOWN ON APPROACH TO THE 0.382 RETRACE MAY OFFER UP A LOW RISK HIGH REWARD SHORT OPPORTUNITY, ALLOWING TRADERS TO JOIN NEWLY ESTABLISHED DOWNTREND AT A DECENT PRICE.
RSI IS ATTEMPTING TO PIERCE THE OVERBOUGHT MEDIAN LINE, AFTER HAVING PREVIOUSLY BOUNCED OFF THE 0.50 RETRACE - GBP/JPY APPEARS TO BE RESPECTING FIB LEVELS IN THE SHORT TERM PERHAPS?
THE 188 LEVEL OFFERS REASONABLE STRUCTURAL RESISTANCE LEVEL, A PULLBACK TO 186.50's CANNOT BE RULED OUT.
A SLOW DOWN ON APPROACH TO THE 0.382 RETRACE MAY OFFER UP A LOW RISK HIGH REWARD SHORT OPPORTUNITY, ALLOWING TRADERS TO JOIN NEWLY ESTABLISHED DOWNTREND AT A DECENT PRICE.
RSI IS ATTEMPTING TO PIERCE THE OVERBOUGHT MEDIAN LINE, AFTER HAVING PREVIOUSLY BOUNCED OFF THE 0.50 RETRACE - GBP/JPY APPEARS TO BE RESPECTING FIB LEVELS IN THE SHORT TERM PERHAPS?
THE 188 LEVEL OFFERS REASONABLE STRUCTURAL RESISTANCE LEVEL, A PULLBACK TO 186.50's CANNOT BE RULED OUT.
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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.