Thursday, October 15, 2026

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FxWirePro:GBP/JPY forms Bearish Gartley Pattern, good to sell on rallies

Harmonic Pattern Formed; Bearish Gartley pattern Potential Reversal Zone (PRZ) -127.70 The pair has jumped till 127.38 from the low of 125.98 made yesterday. It is trading around 127.04. Short term trend is still weak as…

By FxWirePro Team
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FxWirePro:GBP/JPY forms Bearish Gartley Pattern, good to sell on rallies
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  • Harmonic Pattern Formed; Bearish Gartley pattern
     
  • Potential Reversal Zone (PRZ) -127.70
     
  • The pair has jumped till 127.38 from the low of 125.98 made yesterday. It is trading around 127.04.
     
  • Short term trend is still weak as long as resistance 127.70 holds. Any break above 127.70 will take the pair to next level till 128.60/129.50 in the short term.
     
  • On the lower side immediate support stands at 126.40 and any break below targets 125.90/125.30.

It is good to sell on rallies around 127.10-127.20 with SL around 127.70 for the TP of 125.90

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