2025/11/24 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

The 1-hour chart says sell, while the 4-hour chart may be forming a pullback.
Within the range, lows have been turning up, so the flow may well be leaning toward buying.

Scenario A

Buying the dip after price breaks above Line A.
Initial target is around 206.

Scenario B

The current range favors selling.
If I judge that price can’t get above Line A, I’ll sell from the top.
Target is Line C, or around the blue line just above it.
The expectancy isn’t very high.

Scenario C

If price breaks below Line C, it’s heading down.
I’ll wait for a retracement and sell.
Target is around 204.

Review

It was Scenario A.

After price broke through Line A once, I waited for a pullback, but it dropped sharply, so I was a bit cautious.
After that, I went long at the red circle, where price made a higher low again on the lower timeframes.
It fell just short of the target, but I took profit where it came down off the next horizontal level up. 40 pips