GBP/JPY Bearish Butterfly and double top formation
The image speaks for itself, all indicates a bearish move towards leg C of the butterfly.
If pattern fails to complete blame the banks and all thoose manipulators!
If pattern fails to complete blame the banks and all thoose manipulators!
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EMA can only be supportive for so long...
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Finally, seems like TA still works theese days...
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Price found some kind of support on the green trend line, which happens to be 0.61 FIB retracement from the move up. It's decisive now, if it breaks down, 0.78 FIB is required and we will see the last leg complete our pattern.