Triangle & Tweezers Bottom Rolling GBP/JPY – UK GDP Surprises

The British gross domestic product (GDP) increased by 0.2% in the three months to February 2019. Following three-month estimates are...


The British gross domestic product (GDP) increased by 0.2% in the three months to February 2019. Following three-month estimates are determined by comparing GDP in three months with GDP in the previous three-month period, for example, GDP in December to February compared with the past September to November.

On the other hand, the manufacturing figure surged dramatically by 0.9% vs. 0.2% forecast. Sterling seems to gain a bullish momentum.

So it was a good idea to close the trade with 15 pips profit. My intuition was suggesting that GDP and Manufacturing data can distort the technical analysis.


GBP/JPY has reversed after testing 144.850 support area and it’s very likely to face resistance around 145.600. Zooming in on the 4-hour chart, we can see that the pair has closed a tweezers bottom candlestick pattern which is signaling a bullish reversal in the market.

I’m considering another buy position above 144.850 along with a stop loss below 144.60 and take profit of 145.600.

Good luck!

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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