The following is the GBPUSD four hour chart as of Nov 27th, 5 PM EST. If you observe the chart there is a strong resistance line formed at the bottom of the chart. It also looks like it formed a head and shoulders pattern with neckline. The GBPUSD pair bounced back from the resistance line. But if you observe the bollinger bands they are in slowly turning into a downward trend. So eventhough the graph bounced back from the resistance lineI think it will reach the red dot mentioned in the picture at which point it starts going down again. At this point if strong reversal candlestick patterns are formed I would like to enter a short trade. Even though no perfect reverse candlesticks are formed, I will observe the CCI and Stochasticks oscillator. If the CCI reach the overbought region and starts going down and crosses below the 100 line I will enter the trade. Or if the stochastics reach the overbought region and crosses below the 80 line I will enter the short trade.

GBPUSD Four Hour Chart:

GBPUSD testing strong resistance (neck) line

Today is Nov. 27th. I am expecting the USDJPY to go up because of the following reasons.

1) USDJPY daily chart has formed a candlestick which has a long tail and a small body.

2) The candlestick is completely out of the bollinger bands.

3) Commodity channel index is below -100.

4) Stochastics oscillator is below 20.

5) RSI is below 30.

All the above things are very favorable for a long trade. Check the following daily chart.

USDJPY long trade opportunity:

USDJPY daily chart - candlestick with a long tail and small body out of bollinger bands