GBP/JPY is choosing the way
GBP/JPY has been moving up since the start of January. The pair broke out of a bullish flag and reached new highs in the 145.00 area.
GBP/USD: The pound left the triangle
Recommendation:
SELL 1.266 SL 1.2715 TP1 1.256 TP2 1.246 TP3 1.22
On the daily chart of GBP/USD, bears managed to move the pair outside the triangle. The pair needs to stick below 1.27 and fall to the August minimum to continue going down. If the August minimum is successfully updated, the AB=CD pattern with the 161.8% target will be activated. It will comply with the 1.22 level.
On H1, bears are planning to implement the AB=CD pattern. They keep the situation under control until the pair returns to the resistance at 1.2925.
Ivan Karamazov
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