it will look like a good setup if we close above this major major resistance. possibly a break would result in a test of the 154 resistance. this is very interesting. i love trading gbpjpy full of surprises gets me horny.
AS SHOWN IN THE CHART THE PAIR HAS BEEN TRADING WITHIN A TRIANGLE. THE RECENT MOVE WAS SOMEWHAT CONFUSING TO MOST TRADERS AS IT DID NOT BOUNCE OF THE TRENDLINE. THIS COULD BE A SIGN OF A BIG MOVE COMING IN. IF WE BREAK AND CLOSE ABOVE TRIANGLE THEN LONG AND VICE VERSA FOR SHORT.
GBPUSD COULD BREAK TO THE UPSIDE. KEY LEVELS TO WATCH IS IF WE CLOSE ABOVE THE 2 RESISTANT LEVELS WE WILL SEE MORE UPSIDE. IDEAL ENTRY IS THE CLOSE ABOVE
BASICALLY IF WE CLOSE ABOVE THIS RED ZONE WE WILL TEST OUR PREVIOUS DAILY HIGH WHICH IS AT 144.6. HERE THE BULLS WILL PROBABLY MAKE A 100PIP MOVE WHICH MIGHT CLOSE ABOVE SO BE CAREFULL WHEN U ENTER.
