GBPJPY - long trade inside a larger consolidation
GBPJPY needs to push higher since we broke out of a triangle ABCDE pattern and price didn´t bounce off from a fib level for further continuation down.
Currently, price is moving inside a wave c of (B) [blue count, intermediate level).
My expectation is a rejection from the 78.6% fib level to continue down for the wave c of 4.
Currently, price is moving inside a wave c of (B) [blue count, intermediate level).
My expectation is a rejection from the 78.6% fib level to continue down for the wave c of 4.
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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.