Buy stop and sell stop opportunity.
however by Sunday 13th of May, we may see a structural change to the upwards trending GBPJPY or it may continue along it's merry way to 176.
In any case, it's a good opportunity for an entry order.
My bias is down as JPY picks up strength.
GBPNZD: Classical and harmonic structures signaling additional recovery
Chart Setups:
1- Bullish harmonic pattern.
2- Potential inverse head and shoulders pattern with a confirmation line in the 1.9500 regions.
3- Prices are being carried by SMA20 from the underside.
4- Fibonacci retracement of 23.6% of CD leg was taken out, opening the door up towards 38.2%...
I have started building a long position at GBP/CAD based on two fundamental views: 1) With the UK economy maintaining impressive momentum, I expect further upbeat data releases this week in form of CPI and employment change, highlighting the fact that the Bank of England could be the second DM central bank to hike interest rates after the RBNZ. 2) The Canadian...
