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LLOYDS BANKING GROUP PLC ORD 10P, MX OIL PLC ORD 0.01P, VODAFONE GROUP PLC ORD USD0.20 20/21, FRONTERA RESOURCES CORPORATION ORD SHS USD0.00004 (DI), UK OIL & GAS PLC ORD 0.01P, UNION JACK OIL PLC ORD 0.025P
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I will be looking for a potential AU short between 0.77000 - 0.78300 (the grey area)
GBP JPY Head & Shoulders pattern 4HR Chart
Potential double bottom formation before it enters the channel.
Please share your thoughts
Potential reversal to 0.74200
Looks like Bump and Run pattern
Potential upwards move to close the gap at $60 and after reaching the trendline the upwards move will hit resistance. Downwards move and consolidation for the rest of the year between $52 and $65
Cup with handle potential formation
Further downfall until the elections. Potential support level 101900. It has been previous resistance and it is half way though the previous consolidation area.
Next move upwards to 103400 -it has shown resistance so far and consolidation between 103400 and 102700.
Then it will continue its upward move.
The levels are approximate.
Until the elections I would expect further drop to the 101900 which is existing resistance and half way through the previous consolidation area.
After the elections I would expect a consolidation between 103400 and 102700 before taking off again.
Please tell me what you think. -Thanks.