2026/02/24 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

The market is stuck in a range with little movement, but price has bounced off 208, which has been acting as support.
Assuming price heads back toward the 4-hour range high, I’d like to pick up a pullback on the 15-minute chart (M15).

If price breaks below the low, I plan to switch to a bearish bias as in C, but with 208 providing support just below, I expect it will be hard to actually sell there.
I’ll make the call depending on how the chart develops.

Eventually price will break out one way or the other, so ideally I’ll already be in a position when that happens.