August 5th: Long Signal at GBP\JPY

After a strange-looking Double Bottom, price has broken the trend line and created a very accurate pullback combined with a morning star candlestick pattern that is a very strong long signal. You can enter right now with stop loss below 127.306. Price has already reached the projected target, but it may do that again so a long signal may be a good trade.

The EUR\USD is in a descending channel chart pattern which can generate very strong signals for us. We will enter a long trade after price breaks the upper trend line and performs a pullback. The profit target of this signal is 250 pips which can give us quite a reward. We will definitely look to see how this chart pattern unfolds and will take action upon the pullback.

Have a good weekend and pips for you all!