Thursday, July 29, 2010

Continue or Reverse?

Check out this falling wedge on GBPJPY H1 chart. Wait for a breakout to confirm the completion of the pattern. Break on the upside or above 136.53 should trigger buyers and the pair may test the resistance around 137.30 area. Break on the other side or below 135.86 should indicate further correction to this uptrend.

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