Market Outlook and Analysis (Nov2019 Week3)

Currency Pair: GBPJPY

Fundamental Analysis – GBPJPY

If there is no UK-EU deal struck by March 2020, the trades between the 2 regions will revert to the WTO rules. According to Roberto Azevedo, the current director general, of the WTO, about half of the UK’s trades are already on the WTO terms. Hence it will probably NOT be a disaster.

Moody’s has warned that they might cut the ratings on the UK sovereign debts again in the Brexit paralysis. All eyes are on the 12 Dec UK elections to break the deadlock of the Brexit negotiations.

Technical Analysis – GBPJPY

GBPJPY D1 Chart: Potential Bearish Bat Completing higher

Back to the initial analysis on the pair. Spotted a potential Bearish Bat pattern completing higher. At this point of time, traders will probably have to stay patient in coming weeks trading this pair. Nothing much happened in the past week from the Daily chart perspective.

All eyes on the Continuation Triangle Symmetrical Pattern for the rally higher to complete the Bearish Bat pattern

GBPJPY H1 Chart – Patterns on the H1 giving trading opportunities

Note: Just for education purpose only, these trades have all completed and are done with.

Although there were not much movement seen on the Daily chart, the smaller time frame H1 gave many potential trades. Winners, Losers and missed trades in abundance. Another way to trade Harmonic Patterns would be to stick with the TF that you are comfortable with and trade them accordingly. Just trade what you see.

How can you take advantage of these Harmonic Trading Opportunities, come for my 3hr-workshop. Register below.


Hi Everyone,

Please like and share my post if you it has helped you in your trading. We are reeling in the pips if you have been following us. Let the winners run and cutting the losers short.

We are having a 3hr workshop in Singapore on the 12th November 2019 (7pm to 10.30pm). Calling out to those of you who are:

  • Working adults who are jaded from your daily lives and looking for an alternative
  • Traders who has been trading for over a year and have not achieve the results you desire
  • Wanting to make a difference to their financial goals

Stop procrastinating, register HERE NOW and come and see how we trade the market. Bring along an open mind to think out of the box to be successful in trading.

Please share with your friends whom you think will benefit from this too. Join us, we are building a close knitted community of successful traders.