GBP/JPY appears poised for a bearish move on the 4-hour timeframe, exhibiting a reversal pattern with both a rising wedge and a double top formation. Additionally, the completion of the Elliott Wave 5th wave suggests further downside potential. Traders may consider entering short positions upon the breakout of the rising wedge and a breach of key support levels for potential selling opportunities.
GBP/JPY appears poised for a bearish move on the 4-hour timeframe, exhibiting a reversal pattern with both a rising wedge and a double top formation. Additionally, the completion of the Elliott Wave 5th wave suggests further downside potential. Traders may consider entering short positions upon the breakout of the rising wedge and a breach of key support levels for potential selling opportunities.