GBPJPY SHORT AROUND 179.60
The chart speaks for it self so this will be brief.
Since price formed a double bottom on the 200SMA it is safe to assume the potential for a triple top W formation pattern. I have mapped out a Supply Zone where price can Potentially Reverse (PRZone).
The Supply Zone ranges between 180.90 and 179.85. Here I believe lay the short orders of the big boys. If this zone is breached then this analysis is incorrect!
Since price formed a double bottom on the 200SMA it is safe to assume the potential for a triple top W formation pattern. I have mapped out a Supply Zone where price can Potentially Reverse (PRZone).
The Supply Zone ranges between 180.90 and 179.85. Here I believe lay the short orders of the big boys. If this zone is breached then this analysis is incorrect!
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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.