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  4. GBP/JPY hidden divergence could empower bulls

GBP/JPY hidden divergence could empower bulls

September 08, 2016 13:01

The dragon, GBP/JPY pair made a strong move to the upside from 132.00 zone. After hitting 138.35 it dropped and currently its at POC zone 135.22-50 (double bottom, lower price harami, divergence trend line, L3, 61.8). The price could spike from the zone towards 136.10 and further 136.70. Only above 136.75 we could see another retest of 138.00.However, divergence could fail if the price dropped below 134.75 and in that case way to 133.95 would be open. So at this point traders should focus on possible spike from POC zone.

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