GBPJPY Pullback then Impulse ?
Updated
Major sell off @156.000 on June 1st 2021 breaking below previous high of 153.500 all the way to 148.300. Price basically
consolidated within that range in a wedge pattern before having a huge rally to the upside. Price then broke above key level of 156.000 but was unable to penetrate 158.000. Then price slowly declined having rejections @158.250, 157.770, 157.100 essentially breaking back under 156.000 in the manner of a downtrend. I'm expecting a pullback into 156.000-155.600, a clear formation of a LH (4hr) before the continuation to the downside making 148.300 our Target once again.
consolidated within that range in a wedge pattern before having a huge rally to the upside. Price then broke above key level of 156.000 but was unable to penetrate 158.000. Then price slowly declined having rejections @158.250, 157.770, 157.100 essentially breaking back under 156.000 in the manner of a downtrend. I'm expecting a pullback into 156.000-155.600, a clear formation of a LH (4hr) before the continuation to the downside making 148.300 our Target once again.
Trade closed: target reached
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