GBP-JPY summary plus “inside bar” pattern this week

Posted on February 24th, 2008 by Mayson

Let’s summarize what we have got with GBP-JPY pair in Forex so far.
A. Major trend on daily and weekly charts is bearish.
B. Couple of weeks ago we have encountered a 0.618 Fibonacci retracement on daily charts where market has stopped one more time in attempt to go upwards.

C. Nice blue line on the pic above  […]

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Filed under: GBP/JPY Forex Trading