Using previous data, I have gone for the idea that GBPJPY will go up.
The blue line I've drawn is what I'd think would happen.
I'd expect a couple of candles going down to start with, and than a reversal going up, maybe 3-5 bullish candles.
There onwards, following my trend lines, wedged- the price squeezes in and than going up to my fib point 1.
After that, maybe some neutral candles, than boom! uptown 1.272.
I do think it will go to my 1.618, one month.
The blue line I've drawn is what I'd think would happen.
I'd expect a couple of candles going down to start with, and than a reversal going up, maybe 3-5 bullish candles.
There onwards, following my trend lines, wedged- the price squeezes in and than going up to my fib point 1.
After that, maybe some neutral candles, than boom! uptown 1.272.
I do think it will go to my 1.618, one month.