Triangle Fakeout Fails GBP/JPY Signal – What’s Next?
Arslan Butt • 1 min read
What’s up, everyone.
The lack of economic events is causing a thin trading volume and volatility in the market. Which is why the market isn’t moving much but trading in sideways patterns. Same happened to FX Leaders GBP/JPY trading signal and we faced stop loss.
Looking at the 4- hour chart, the GBP/JPY indicated a breakout at 147.350 which was supposed to lead the pair towards 147.750. But the market reversed due to lack of trading volume. For now, the bullish trendline is providing a nice support near 147 and the violation of support can cause a further sell-off in the GBP/JPY.
On the upper side, the pair can stay bullish above 146.85 and it may remain bullish until 147.650. All the best!