Market Outlook and Analysis (Nov2019 Week4)

Currency Pair: GBPJPY

Technical Analysis – GBPJPY

GBPJPY D1 Chart: Potential Bearish Bat Completing higher

The initial Bearish Bat pattern spotted is still valid. All eyes on the Continuation Triangle Symmetrical Pattern for the rally higher to complete the Bearish Bat pattern. Daily RSI staying above the 50 line, maintaining my bullish bias.

GBPJPY H1 Chart – Patterns on the H1 giving trading opportunities

We now have a Bearish Bat pattern on the H1 Chart. However, this pattern does not meet our Time Zone criteria. Hence caution is in the air. Will monitor this closely at the start of the trading week. If this pattern does fail, then this could be the move that breaks the Daily Triangle.


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