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British Pound / Japanese Yen
Long

GBPJPY - Cup and Handle Formation

88
GBPUSD is showing a beautiful cup and handle pattern, which is great for longs.

Conservative entry would be at the breakout of the handle. Be careful on position sizing as MACD doesn't seem to be in the favor of bulls.

Take Profit level to be slightly before major resistance levels at $161.373 as it was at this level that price formed a double top previously.

Happy Trading
sooshiz
Chart PatternsCup And HandlecupandhandlepatternGBPJPYgbpjpyanalysisgbpjpylongTrend Analysis

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Chart PatternsCup And HandlecupandhandlepatternGBPJPYgbpjpyanalysisgbpjpylongTrend Analysis
sooshiz

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.