GBPJPY has recently displayed a robust bullish trend, characterized by a rising wedge pattern and a strong impulse wave. Within this pattern, we observe an ABC pattern formation, where the price is expected to undergo a bearish breakout followed by a correction or retracement to the downside. Traders and investors should be cautious and monitor the price action closely for the confirmation of the bearish breakout and subsequent correction. It is important to note that market conditions can change rapidly, so conducting thorough analysis and staying updated with the latest market developments is crucial.
