Great pullback after break looks good entry point
GBPJPY just broke the channel so I will long here with stops just inside the channel.
I had previously sent an updated about the impulse target, here I have added the parallel channel to further reinforce the top of the channel trend line. We are reaching a all time high not only in price but also in relative strength and the volume for buyers is fast running out. When we reach the top of the channel next week I will look for a bullish reversal...
Here I have drawn what I expect gold to hit as a top of impulse and then 3 fib retracement levels