The pair is about to form an inverted head and shoulder formation with neckline resistance at 186.06 levels.
GBP/USD is repeatedly finding bids around hourly 50-MA and appears poised to form its own version of inverted head and shoulder, however, Yellen could kill the formation.
Hence, long GBP/JPY appears more attractive.
trade - Long GBP/JPY @ 185.60 Target 186.06, 186.53 stop loss 185.10
GBP/USD is repeatedly finding bids around hourly 50-MA and appears poised to form its own version of inverted head and shoulder, however, Yellen could kill the formation.
Hence, long GBP/JPY appears more attractive.
trade - Long GBP/JPY @ 185.60 Target 186.06, 186.53 stop loss 185.10
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