Double top pattern in GBP/JPY – Are you ready to trade breakout?
Arslan Butt • 1 min read
On the daily timeframe, GBP/JPY has formed a double top pattern which is providing a solid resistance at 149.300. Zooming out on the chart, you can see there’s also an ascending triangle pattern which is suggesting a bullish bias of the market.
Now the thing is, despite the double top resistance, the market is likely to head north to test 149.250.
Key Trading Level: 148.15
The pair can trade sideways due to the absence of fundamentals, yet 148.150 is a crucial level to watch today. I will be looking to stay bullish above it to target 149.250.