GBPJPY Week Insight (Aug 16-20)
Hello All and blessed.
Since price failed to break the top trendline
there can be some downside to 149.
Also RSI is not yet oversold, and has not reversed.
Price also has to break below the 149 to continue head and shoulders pattern.
If there is a break above the top white trendline then we see a big major move up.
Note that in weekly time, there is a cup and handle pattern and we are in the handle.
Since price failed to break the top trendline
there can be some downside to 149.
Also RSI is not yet oversold, and has not reversed.
Price also has to break below the 149 to continue head and shoulders pattern.
If there is a break above the top white trendline then we see a big major move up.
Note that in weekly time, there is a cup and handle pattern and we are in the handle.
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