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IvanLabrie
May 12, 2015 2:01 PM

GBPJPY: Target reached ahead of time, fade the euphoria Short

British Pound/Japanese YenFXCM

Description

Analysis on chart. Simple setup, I expect the larger moves to come tomorrow but it's worth monitoring GBP pairs for a short.
Timer about to expire for the last uptrend signal, very nice divergence setting up in CCI.
Short under the highest low.
Good luck!
Ivan.
Comments
IvanLabrie
The last 2 4h bars might have marked the top here.
IvanLabrie
Price found support at my lowest high trendline.
Watching with interest.
IvanLabrie
No GBP short in sight yet.
It's better to wait for fundamental events that can trigger a selloff.
ElPatron.Y
Sup?
IvanLabrie
ElPatron.Y
Somehow it refuses to fall out of my rising wedge...
ElPatron.Y
ElPatron.Y
It's trading in the same direction as gbpeur, if you look at the gbpeur you see that it has peaked too, but refuses to fall...
ElPatron.Y
This tells me eurgbp should rally soon, but it is going nowhere this way.
IvanLabrie
It's better to wait for a confirmed sell.
Tomorrow will be the day for GBP shorts...once London opens and the high impact news come out.
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