Hello everyone, lets take a look a GBPJPY. There is two possible outcomes for this pair. On the short side we have a head and shoulders pattern with a break and close below the neckline. On the long side we have a descending wedge that we could break out of to the upside. Over all the trend is down but it wouldn't be unlikely for us to break the descending wedge and have a larger correction wave to the upside.
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