British Pound Techs: GBP/USD Two-Year-Highs, GBP/JPY Wedge Break
GBP/USD FOUR-HOUR PRICE CHART
(Click on image to enlarge)
Chart prepared by James Stanley; GBPUSD on Tradingview
GBP/JPY STRUGGLES BELOW 140.00 FOLLOWING WEDGE BREAK
GBP/JPY has been even a bit more subdued from the GBP/USD setup looked at above: Case in point, as GBP/USD rushed up to that fresh two-year-high around the 2021 open, GBP/JPY remains well below the September swing-high.
What is interesting in GBP/JPY, however, is the fact that the pair is trying to maintain a bullish breakout from a symmetrical wedge that took most of last year to build. This wedge contained most 2020 price action in the pair until the first daily close outside of the formation showed on December 30th.
GBP/JPY DAILY PRICE CHART
(Click on image to enlarge)
Chart prepared by James Stanley; GBPJPY on Tradingview
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