GBP/JPY: Moving Averages acted as support

GBP/JPY: Moving Averages acted as support

The Moving Averages have acted as support, so there's a bullish 'Thorn' pattern. In this case, the pair is likely going to test the nearest resistance at 147.80 - 148.56, which means we could have a new local high soon. If any bearish pattern forms next, there'll be time for a downward correction towards the closest support at 145.98.



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GBP/USD: confirmed "Thorn" pattern

The last "Pennant" pattern has been broken, so bulls found resistance at 1.2915. Nevertheless, the market is likely going to move on, so we should...


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