GBPJPY… i always wanted to say this: “… ¡BANG! ”

See previous post on this topic: http://swelltrader.blogspot.com/2009/07/gbpjpy-poised-to-big-short-bearish-move.html

-

Definitely very good bearish opportunity in GBPJPY

Important to note that from 5 min to H4 timeframe, all MA`s are positioned in bearish “trend mode”

-

GBPJPY poised for a bearish move

Based on my previous post on june 22th ( http://swelltrader.blogspot.com/2009/06/gbpjpy-h4-head-and-shoulders-in-making.html ), and after the  possible bearish H&S`s neckline has been broken and retested, i think this pair will unfold a big bearish move of about 700 pips. despite of the H&S pattern, is very important to note that moving averages in H4 time frame, are positioning in bearish “trend mode”.

-

GBPJPY, H4 Head and Shoulders in the making

-