GBP/JPY has reached a re-occurring, strong resistance barrier and is likely to retrace back to previous support line of 137.100, Furthermore stochastics/RSI also show that it has been overbought and an bearish RSI divergence has been formed. Also a double top is being formed too, lots of negative stimulus for GBP - increasing likelihood for it to drop
GBPJPY.
+Possible head & Shoulders formation in future too
GBPJPY.+Possible head & Shoulders formation in future too
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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.