After one month of consolidation, we can finally see a breakout from the 300 pips zone. GBPJPY is giving a clear trading signal by breaking the trendline and support. After this, it will very probably go lower and the closest profit target is around a level 145.6. If the market goes back to 147, it would be a proper entry point for a short position.
Stop-loss could be placed at 147.8. GBPJPY was very lazy last month, so we should see some bigger moves soon. If GBPJPY fails to create a pullback from 147, we will probably witness a continuation of the uptrend which started in the middle of August.
Stop-loss could be placed at 147.8. GBPJPY was very lazy last month, so we should see some bigger moves soon. If GBPJPY fails to create a pullback from 147, we will probably witness a continuation of the uptrend which started in the middle of August.