GBPJPY PENNANT PATTERN BOUNCE

Pair: GBPJPY
Timeframe: 1D , 4H
Analysis: Round number level, trend line, volume profile, support and resistance, pattern pattern
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Key Takeaway: UK is going to a recession as it is so we should have a bearish bias for any pairs wit GBP as base currency. Here we have touched the top resistance of pennant and dynamic resistance so should see a bounce sooner or later
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Level needed: need a close by 161.848
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Trade: Short
RISK:REWARD 1:6
SL: 40
TP: 240
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