- August 12, 2021
- Posted by: Tradingshot Articles
- Category: Forex
GBPJPY is ahead of a “Make or break” situation as it is facing the Lower Highs trend-line that started all the way back from the 2007 subprime mortgage crisis. As long as it holds, the pair will most likely reverse back towards the lower Support levels.
However if the 2007 line breaks, then it will most likely enter a new 1-2 year Bull Phase towards the 205 Resistance. Both the 1W RSI and the Golden Cross are in similar places as in July-August 2013. We may be repeating the same fractal.
Which of the two do you think will prevail?
Most recent GBPJPY idea: