TPTrading
Long

GBPUSD Bullish Bat completion

FX:GBPJPY   British Pound / Japanese Yen
Bullish Bat pattern is completed.

Potential reversal zone (PRZ) has many fibonacci extensions in it, not only one or two. That makes this level even more important as a potential reversal area. Structure is giving strong support and there is also an ascending trendline giving some support at this level.

After a strong downtrend move that has taken price from 188.700 to 175.580 it would be wise to wait for some kind of confirmation of potential reversal before entering.

Could be a great trade with great risk/reward, but be careful...
Order cancelled: Price went down without signs of reversal so there was no trade.
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