We have said before that we have a short bias on this pair.

The market then pushes up and found resistance on the Head & Shoulders neckline and start consolidating. We knew there was going to be a breakout, but considering our bias is short, we then placed an entry on the resistance, and the market breaks out to the downside.

As of now we still have a SHORT bias on this pair, until we get a break and close above 137.500 Level. We could also be forming a Head & Shoulders pattern on the 30m Time Frame. We placed a limit order on 136.000 even. It was 6 pips away from being triggered, but we will leave it there and wait until we either get stopped out or hit targets once the limit is active.

*DO NOT TRADE THIS ANALYSIS BLINDLY*

That's my thoughts about this pair, let me know what's on your mind down in the comments!
Chart PatternsGBPJPYgbpjpyanalysisgbpjpyshortTrend Analysis

إخلاء المسؤولية