GBPJPY warming up for new highs

66
ORANGE CIRCLE: Wave 4 (light blue) seems to be completed with a false breakout and quick buyer reaction, throwing price action back into the channel.
PURPLE CIRCLE: Green channel (shorter term) and Black channel (longer term) were both respected.

My primary count considers that we have completed Waves 1-2 (green), and will have further upside and fresh new highs pretty soon.

I´m taking careful small risk trades on long opportunities until price touches the top of the green channel again.

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.