Falls below neckline
The GBPJPY has fallen below neckline support on the GBPJPY (at the 1.3923 level).
For every H&S that develops, there are others that fail, but the fall below the trend line is still a bearish move. The measured target would head on down to 133.19 area. That is a long way off. There are other targets along the way.
Forex technical analysis: Everyone’s favorite…Head and shoulder in GBPJPY
