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Wonour
Nov 6, 2017 7:16 AM

GBPJPY Weekly Outlook 0th November 2017 Long

British Pound/Japanese YenFXCM

Description

We have seen the pair have a bullish run and have some corrective waves form. This has given us a very bullish looking Flag / pennant formation.

Price has been respecting the ascending daily trend line creating Higher Highs and Higher lows. The is some further confluence with a 0.618 fib at the trend line and where price has recently rejected and fail to break lower.

This could be a abc wave up to recent daily highs of 152.800

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