based on daily chart, we are heading towards 236

Auslanco - GBP/JPY and GBP/USD (newstrade)

239.15

Auslanco - GBP/JPY and GBP/USD (newstrade)

It's something normal for this pair to go up 100 and then down 200, I'm not worried unless we break and close outside the upper trendline (1h chart)

Auslanco - GBP/JPY and GBP/USD (newstrade)

1hr TF, we are in a downtrend channel image

Auslanco - GBP/JPY and GBP/USD (newstrade)

Newbies should get themselves educated and learn as much as possible, because days like these will come when AUS won't be here and then what are you gonna do? study my friends.. I at first also tried to be a smarty thinking I'm going to win and beat ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

honestly, I don't see anything stopping this beast from 236, GBP news is also expected to be bad.. don't trade based on what I or anybody else says, trade what you see on your chart.

Auslanco - GBP/JPY and GBP/USD (newstrade)

based on 4h chart, candlestick patterns show more downward movement, maybe 236? btw, where is our friend auslanco?

Auslanco - GBP/JPY and GBP/USD (newstrade)

If my 4h candle closes around this area in 1hr n 30mins, I still think we will go to A's tp which is 243.20 time to get some sleep

Auslanco - GBP/JPY and GBP/USD (newstrade)

I use em on daily, 4h, and 1h you can use em on any TF you like, it depends on your trading style

Auslanco - GBP/JPY and GBP/USD (newstrade)

I'll wait for this 1h candle to close and 4h candle will close too

Auslanco - GBP/JPY and GBP/USD (newstrade)

Those fibs are the correct ones

Auslanco - GBP/JPY and GBP/USD (newstrade)

Yep, but if we zoom out the chart, the 2 trendlines cross each other so therefore its called a wedge, if they don't cross each other.. it's called 'channel'

Auslanco - GBP/JPY and GBP/USD (newstrade)

I don't like to predict, but if we reach 243 and break out of the wedge and close at a higher price from the trendline, 244 will be in the reach

Auslanco - GBP/JPY and GBP/USD (newstrade)

yes, some time after todays close.. I don't know when here we can see GJ bouncing up and down the past couple of hours in an uptrend, we will have to breakout either way soon image

Auslanco - GBP/JPY and GBP/USD (newstrade)

we are in a wedge, i'm expecting a breakout tomorrow

Auslanco - GBP/JPY and GBP/USD (newstrade)

I agree, I have this at the back of my head and I posted a couple of days ago about GJ reaching 244 and then falling, but we have to wait till it reaches there and then have short candle confirmation... until then we trade what we see on our charts

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hahahaha Dubai Tower is gonna be sweet give GU a small break to breath a little

Auslanco - GBP/JPY and GBP/USD (newstrade)

there is very strong resistance around 0400 so we have to wait and see

Auslanco - GBP/JPY and GBP/USD (newstrade)

The trendline that was acting as a resistance for quiet a while, after it was broken the previous hour, it is acting as support now.. let's see if this holds till the end of the hour Ok as i'm typing this, price just bounced off the trendline ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

GU 4h candle closed just above the 38.2 fibonacci level next target is 0400 area, strong resistance there

Auslanco - GBP/JPY and GBP/USD (newstrade)