2026/02/12 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

After the failed attempt at the daily chart high, price has been falling this week, but it looks like it has reached a key level.
It will be interesting to see whether it keeps falling with this momentum or bounces for a while.

For day trading, as always, I’ll just wait for a pullback or retracement and trade.
The area around line C is a price zone that would be a monthly chart-level pullback.
It won’t affect day trading right away, but you could see moves like price rising without completing the drop just when you think it’s a downtrend, or the week ending with a long lower wick and price heading higher. So I think it’s better to keep this in mind.