FX:GBPJPY   British Pound / Japanese Yen
With the Pound almost continuing its downtrend on the ending day of the third quarter, today is going to decide the trend for the next quarter from where is price going to stop at the EOD. If the current monthly resistance zone holds strong we are looking at excellent sell opportunity as long as we break the daily support zone. As we have clean candles to the left to mirror we will then see huge selloff positions. Also on the daily we look to have formed the ascending triangle pattern. If the pattern indication is correct we can look for a huge breakout pretty soon and we should be watchful of it. Overall bias still remains short. Looking for sells once we come out of the no trade range.

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.