2025/10/13 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

I’m looking to sell the rally, but in the short term it looks like price may move higher.
I’ll wait and see until around the European session, and follow the move once it gets going.

Scenario A

If price breaks Line A, I’ll switch to a bullish bias.
The 4-hour chart (H4) also looks like it has already made a bearish shift, so this scenario aims to catch the retracement rally.
Target is around 203.8

Scenario B

If price fails to get above Line A and starts turning down (making lower highs), I’ll sell.
Target is around 201.5.
That said, if it drops that far, we might be able to aim for the daily chart key level around 200.6.

Scenario C

The current range low could be Line C or the pink line just above it, but I’ll go with the lower one, Line C.
This scenario aims to sell the retracement after a break below.
Depending on how the chart shapes up, the risk-reward could turn out poor, so I’ll need to judge it as things develop.
Target is the same as Scenario B.

Review

No trade.

Price didn’t break out of the range, and there was no setup to sell either, so there was nothing in particular to do.