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GBPJPY Pennant Formation Good News For Bears

Discussion in 'Technical Analysis' started by FXStreet_Team, Mar 31, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    The anaemic Pound looks to be setting up for yet another tumble against the Yen. With the general atmosphere of scepticism towards the UK economy, the GBP has seen itself sliding against most currencies in the past few weeks. In January the GBPJPY took a major dive from the lofty heights of 174.87 to the low of 154.75. In subsequent weeks, the bulls eventually managed to fight back and recover some of the losses. However, the bears are not done yet and could now be poised to have another go at

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