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GBP/JPY: Descending Triangle

GBP/JPY, 1 hour    LONG Mar 19
There is a descending triangle encountered and GBP/JPY asks for a bit more consolidation as a verification of a breakout. A descending triangle tends to be a useful price action indicator that is used to predict an extension in the upward direction when price breaks through the resistance. It is not ruled out that a bullish move towards the 190 level will form on a breakout of the descending triangle.
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