FullTimeTrader

GBPJPY-bullish bat-GBP extremely oversold and must recover

Long
FX:GBPJPY   British Pound / Japanese Yen
3
I've been closely and succesfully watching this pair this month.
The price is now near the important psycho level 1.7500 and about to form a bullish bat.
The GBP is extremely oversold but is showing some signs of recovery against other pairs.
I expect the GBP to recover very quickly, according to the related pair GBPUSD (you can see my long term W1 analisis):
Thats why i placed three targets : target 1(short term), targest 2 and 3 (long term).

Best regards

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.