After completion of the Head and Shoulder pattern, the counter GBPJPY is experiencing a double bottom. A Double bottom is a strong chart pattern for a bullish trend. Today the counter broke out the peak price (136.00) of the double bottom and started moving upwards therefore long is more preferable for this counter.
The counter EURGBP looks to be forming a head and shoulder pattern between ranges of 0.9000 and 0.8878. We see the neck support of 0.8878 holding strong the third time today. We look to buy at ranges of 0.8878 and 0.8900, maintaining stops below the neck line of 0.8878 and testing to reach 0.8980 to 0.9000. We recommend this move only for a short term or for just...
The counter GBPUSD was travelling in the resistance trend line from 30th April which has been tested at the price twice at the prices 1.2467 and 1.2297. On 19th May the bearish trend came to an end by breaking in the resistance trend line at the price 1.2258. Now the current trend is bullish and the counter is travelling in the ascending channel. We prefer going...