GBP JPY breaks the ascending triangle pattern 29/4/2013
Economies.com
2013-04-29 08:04AM UTC
By the above chart we notice that the pair declined after breaking the ascending triangle’s support level, to make the main target for the bearish trading is towards 149.30.
We notice the stability of the moving average 55 around the broken level, which supports the bearish overview in the upcoming period, thus the stability of the trading below the ascending triangle level allows the price to move in sideways range until retesting this level then heading towards the mentioned level.
Expected trading range is between 152.20 and 149.30
Expected trend: bearish
Forex and Currency News
Forex
Euro approaches week high amid positive outlook
2024-04-18 08:30AM UTC
Euro rose in European trade on Thursday against a basket of major rivals, extending gains for the ...
Forex
Dollar gives up five-month high on profit-taking
2024-04-17 10:56AM UTC
The dollar lost ground in European trade on Wednesday against a basket of major rivals away from ...
Forex
Sterling starts recovering after hot UK inflation data
2024-04-17 06:43AM UTC
Sterling rose in European trade on Wednesday for the first time in four days against the dollar, ...
Forex Technical Analysis
Forex
The GBPUSD forecast update 19-04-2024
2024-04-19 10:43AM UTC
GBPUSD Price Analysis Expected Scenario The GBPUSD price trades with clear positivity to ...
Forex
The NZDCAD surrenders to the resistance line stability – Forecast today – 19-4-2024
2024-04-19 08:21AM UTC
NZDCAD Pair Analysis Expected Scenario The NZDCAD pair has confirmed its submission to ...
Forex
The EURJPY faces the negative pressures – Forecast today – 19-4-2024
2024-04-19 08:16AM UTC
EURJPY Pair Analysis Expected Scenario Despite strong negative pressures this morning due ...