ascending triangle. GJ must break 211.70 first and then we expect break @ 212.20 to move toward 217

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

agreed, and it's time to decide for GJ to move little down and bounce one more time off it.

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

my analysis tells me that GJ might test 210.35/50 again in order to move up to 217.25 area

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

also on its way up GJ shall meet 211.70 problem

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

GJ has formed a very strong barrier in its move down; if 210.50 is crossed down then other one much stronger is @ 210.25 level

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

that is 1st harmonic barrier

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

if GJ crossed 210.50 down then we might see 209.30 today

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

Happy Birthday! Hope you got a nice gift from GJ today

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

there is a strong barrier @ 210.60/50 level

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

1W shows that GJ is in a triangular configuration within main up move/retracement IMHO 215.30-40 is another large barrier and if GJ would cross it up then we might see 217.60

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

yes, your observation is very interesting and require more study and analysis.

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

it could take a week to reach that area IMHO

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

completely agree about next week up move toward 217 area would be happy to see all making pips!

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

of course, GJ would retrace down. the question is only when

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

as longer price does not retrace as sharper and stronger it would be; definitely GJ would retrace down

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

btw price may not cross down 212.05 area because of very strong barrier is formed

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

the correct answer lies under 212.65 level if GJ would hold within that area for hours then we might see further fall down if it would jump out of it for several times we might see accomplishment of up move. time is our judge

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

there are 2 points to think about: 1. according to Aus strategy on 1h prices went down starting a retracement 2. according to my estimation, GJ did not accomplish its move up to 214.25 area. let's watch further development to get the answer

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

I don't think it is a good point to begin with longs again; as GJ might go more down after 212.85 or 212.98

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

I have no objections on channels and S/R levels, my assumption is based on points calculation and GJ specific harmonies numbers

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