Navigating GBP/JPY Break & Retest Pattern for Optimal Trading Opportunities
Monday, 19 February 2024, 17:15
GBP/JPY Break & Retest Pattern Overview
GBP/JPY’s recent price action has formed a bullish Break & Retest pattern – an underrated pattern which represents a structured way to navigate breakouts. Here are the key components:
1. The Breakout:
- GBP/JPY made a decisive move higher, breaking above a significant resistance level.
2. The Retest:
- Following the breakout, prices retraced back to the level of the previously breached resistance.
- This pullback is a crucial component of the pattern.
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