Pound Aussie set-up
i have spotted double top, rising wedge and falling resistance
guys considering this structure, i believe to have so much more reward, and make sure to find good confirmation before entry.
i hope that you'll follow with good sounding risk management,
remember pound is fundamentally down, where baily has kicked the pound down, despite the...
What are our targets for the GBP/JPY? This might all depend on Central bank intervention.
Last week the BoJ briefly intervened and now there is speculation that the BoE will follow through with similar measures to help prop up the pound, which has cratered in the past two days in response to the dismal economic outlook of the UK and new tax cuts from the government.
The pair has formed a rising broadening wedge pattern on daily basis, where yesterday, the prices turned from the lower trendline of the pattern, rebounding from the crucial support of 1.20200, creating a double bottom. The prices can reach the level of 1.22860 with an intermediate target at 1.21606. On the other hand, initial support lies at the 1.20200 and then...
