GBPJPY D1 AnalysisGBP/JPY is testing a descending trend line just above the 143.00 major psychological handle. And, as you can see, the trend line in this case represents the resistance of a potential triangle on the daily time frame.
Will pound traders bow down to the sellers for another day today? Or can the bulls push for an upside breakout this time? Remember that not all descending triangles lead to a downside breakout.
Shorting at the first signs of a successful resistance at the trend line would make for a good trade especially if Guppy drops back down to the 141.150 triangle support.
Meanwhile, a clear break above the triangle could take the pair back to its 147.00 previous highs.
