Double Top at GBP\JPY, 1-Hour Chart

A very precise Double Top pattern is in final stages of pullback in the Pound-Yen currency pair. A breakout has already occurred and price is now performing a pullback to the neckline that was broken. Also note that neckline is a strong psychological level which empowers its neckline role.

Pattern size is 180 pips - far target. After a bearish reversal candlestick formation occurs Short entry will be signaled. A Doji has already started to form and short signal is expected. Also note that Bollinger Bands are trending which means that trend is present. Check risk:reward before entry.

Update 14:13: Candlestick formation didn't form, short trade cancelled. Pattern has transformed into a triangle.