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Fibonacci Aligned

British Pound / Japanese Yen (FX:GBPJPY)  
FXLifestyle Updated   
FX:GBPJPY   British Pound / Japanese Yen
Chart Patterns Technical Indicators Beyond Technical Analysis GBPJPY Fibonacci Cluster
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chartpattern indicator beyondta gbpjpy fibonaccicluster
Daily FIB 0.886 aligned with 4 Hour 0.50 FIB. Price is struggling to break this level. Retesting previous resistance, Demand Zone.
Descending triangle forming. Watch for breakout of upside or downside.

Waiting for retest of either direction breakout. Anticipating breakout to the upside.
Comment:
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Waiting for retest of breakout before entry
Comment:
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Showing possible rejection off triangle breakout and 200 EMA, need bearish candle stick confirmation for entry.

Patience!
Comment:
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If price breaks 0.50 FIB level and price prints a 4 Hour Engulfing candle, we will be looking for a bullish breakout to the upside.

Be careful of fake breakouts!!
Comment:
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TP1: 148.000
TP2: 147.000
Comment:
Price faked out once more. Respected trend line, but bull are showing exhaustion failing to break 0.786 Daily FIB, ill wait for trend line break and retest for entry. use proper risk management you never know what price will do, there is no 100% guarantee ever in the markets.
Comment:
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GBP can be very volatile. If it price prints a bearish engulfing candle off the retest of the broken fib and trend line I will be going short
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