What happened? Gold was just above $1 800, now - back down below?
GBP/JPY: 'Double Top' pattern
Information is not investment advice
Bulls faced resistance at 148.867, so there's a 'Double Top' pattern. At the same time, it's likely that there's a developing 'Pennant' pattern. If so, the price is going to test the nearest support at 147.009 - 145.595. The subsequent pullback from these levels could lead to another bullish rally towards the next resistance at 148.562 - 148.867.