Since October last year, a clear ascending triangle was formed on the price chart of the cross pair GBP / JPY.
On the hourly scale of the chart, the direction of the trend is set by the rising wave of June 12. With this, after the correction part (B) that was completed at the end of July, the conditions for the beginning of the final Part (C) are already prepared.
In the next trading sessions, the upward movement is expected to end.
Boundaries of resistance zones:
- 147.00 / 147.30
Support zone boundaries:
- 146.20 / 145.90
Explanations to the figures: For simplified wave analysis, a simple type of wave is used that combines 3 parts (A; B; C).
The zones are marked on the graphs.
Attention: The wave algorithm does not consider the duration of tool movements in time. The forecast is not a trading signal! To conduct a trade, you need to confirm the signals used by your trading systems.