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GBPJPY H1 Chart: Cup And Handle Pattern

GBPJPY H1 Chart: Cup And Handle Pattern

GBPJPY is printing a Cup & Handle Pattern on the H1 Chart.

The neckline of the cup is 144.460. 144.530 is capped by SMA 100 and the fractal trendline.

Safe entry for the long trade would be to wait for the breakout of 144.530.

Trade: LOng

Entry: 144.540

Stop: 144.300

Target 1: 144.720  / Reached

Target 2: 144.920

Extended Target: 145.100

Note: BoE Gov. Carney will have a speech. It may create volatility on the GBP pairs.

Update: TP1 Reached

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