We see a Head and Shoulder pattern has formed on the GBPJPY H4 chart..
The pair has made several touches to the trendline resistance and failed to break them.
On the Daily chart we also see a downtrend.
Let's expect a long term downtrend.
There's a minor support at around 148.650 level.
Our First target would be the 148 level.
The pair has made several touches to the trendline resistance and failed to break them.
On the Daily chart we also see a downtrend.
Let's expect a long term downtrend.
There's a minor support at around 148.650 level.
Our First target would be the 148 level.
Trade closed: target reached:
Target HIT