Cross-rates signals: GBP/JPY forms a “double bottom”

The GBP/JPY cross is trading amid growing optimism about the Brexit talks between Britain and Germany. The pound strengthens positions across the market. The GBP/JPY cross-rate also wasn’t an exception. At the same time, reducing the risks around the EU also contributes to the growth of the pound.

The technical factor for the growth of GBP/JPY is the formation of a “double bottom” on the timeframe H4, which, in case of consolidating the pair above 144.50-145.00, will open the way to resistance levels: 145.50 and 146.00. Supported by the mark: 144.00 and 143.70.

Read also: “The concept of the market driver and what to look for in the trade”

Hanzenko Anton

Earn with the help of the trade service on the news Erste News!

Topical articles of the trader’s blog:

1. How long will last the US trade war against all?!
2. Swedish Krona. Features of trading Scandinavian currencies
3. Norwegian Krone. Features of trading Scandinavian currencies

Current Investment ideas:

1. Preparing to have profits on an optimistic report of Alcoa Inc.!
2. On weak reporting of Boeing shares we can get a strong income!