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Daily Forex Chart Art - Jan. 13, 2016

Discussion in 'Technical Analysis' started by FXStreet_Team, Jan 13, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    GBP/JPY: 1-hour Breakout alert! Much like our AUD/JPY bearish pennant setup yesterday, GBP/JPY is showing a triangle breakout in the making. This time around, a descending triangle is making itself known on the pair’s 1-hour chart. If you’ve read the School of Pipsology, then you’ll know that a descending triangle doesn’t always guarantee a downside breakout. A short trade around the 100 SMA and falling trend line could get you decent pips if you think that the pound is in for more losses

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