It is stuck at the 23.6 and 61.8 as well

Auslanco - GBP/JPY and GBP/USD (newstrade)

But the support line for pattern confirmation lies far below @ 227.40. Before that level is broken, it is not confirmed plus the volume pattern is not very supportive since the second top volume is higher than the first and it is usually the opposite ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I can't see the double top, can you post your chart

Auslanco - GBP/JPY and GBP/USD (newstrade)

My TP is the 38.2 @ 233.5 with SL @ 232.13, what are yours?

Auslanco - GBP/JPY and GBP/USD (newstrade)

Long @ 232.53

Auslanco - GBP/JPY and GBP/USD (newstrade)

Strong confluence around 232.40 of 38.2 and 61.8

Auslanco - GBP/JPY and GBP/USD (newstrade)

My 4H shows two opposing trend lines working their way to form a symmetrical triangle while Bollinger Bands are almost horizontal which does not indicate any clear market direction until one of the trend lines is broken. Short term direction could ...

Auslanco - GBP/JPY and GBP/USD (newstrade)

I am not worried unless the previous resistance @ 234.00 is broken

Auslanco - GBP/JPY and GBP/USD (newstrade)

Double tops are not confirmed until support line is broken which lies @ 231.40 on 1H

Auslanco - GBP/JPY and GBP/USD (newstrade)

True, the next resistance levels on my 4 HR are: 50 Fibo @ 235.18 trend line @ 236.00 138.2 Fibo extension @ 238.61 61.8 Fibo @ 238.94

Auslanco - GBP/JPY and GBP/USD (newstrade)

downward trend line resistance @ 236.00

Auslanco - GBP/JPY and GBP/USD (newstrade)

I second that... for fundamental analysis

Auslanco - GBP/JPY and GBP/USD (newstrade)

If 23.6 id broken, confluence of trend line, 38.2 of 5 Min and previous resistance @ 234.04, good potential retracement point image

Auslanco - GBP/JPY and GBP/USD (newstrade)

23.6 @ 234.25 and 38.2 @ 234.04

Auslanco - GBP/JPY and GBP/USD (newstrade)

Actually, I would like to see it the other way on weekly, retracement off 61.8 and 50 Fibo back to close above upward trend line and currently testing the 50 Fibo in its way up again: image

Auslanco - GBP/JPY and GBP/USD (newstrade)

I am just wondering why lots of people are assuming that 219 will be revisited soon. IMHO, the weekly trend line still holds and we should expect previous highs of 240 next: image

Auslanco - GBP/JPY and GBP/USD (newstrade)

There is another resistance level just below 238.00 which is the resistance trend line that extends from the previous high @ 251: image

Auslanco - GBP/JPY and GBP/USD (newstrade)

I have a downward resistance line (extending from 19/7 high) that is currently @ 238.00 and would be at a lower once, if this level is reached; what makes you think that the 61.8 @ 238.80 could be reached? image

Auslanco - GBP/JPY and GBP/USD (newstrade)

Hey Zoran Where does the resistance trend line's current price; mine is @ 232.78

Auslanco - GBP/JPY and GBP/USD (newstrade)