GBP/JPY pair is breaking out of triangular formation. And keeping the long term bearish sentiment for GBP and risk involved in market. The pair is likely to fall in days ahead. With world markets struggling to keep theri heads up the water. I believe risk aversion is soon to kick in with much vengeance. Right now. GBP/JPY is at 126.92. It is caught in a tight range of 128 at top and 126 at support level. So breakout is eminent. I eigther look forward to enter short trade on a significant break of 126 support level or look forward to enter short at the top of the range around 128 area.
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