GBPJPY - Cup and Handle Formation

GBPUSD is showing a beautiful cup and handle pattern, which is great for longs.

Conservative entry would be at the breakout of the handle. Be careful on position sizing as MACD doesn't seem to be in the favor of bulls.

Take Profit level to be slightly before major resistance levels at $161.373 as it was at this level that price formed a double top previously.

Happy Trading