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Wednesday, 20 November 2013

GBP/JPY H4

General Overview for 20/11/2013:
The Ending Diagonal idea is still in play and price must ovelapse wave 1 purple top to meet the criteria for diagoanl wave. This is why I expect level of 159.50 to be tested sooner or later and then it depends if price will get back to the upside range and try to break out above the high or not.





Support/Resistance:
161.74 - Swing High
160.71 - Weekly Pivot
160.50 - Intrday Support
159.78 - WS1
159.50 - 159.25 - Key Zone

Trading Recommendations:
Breakout below Intraday Support level is bearish and 159.50 level is expected next.

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