2026/05/19 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

Price is near the 4-hour rally high, and the daily chart is starting to turn lower, with the MA pressing down on price from above.
For now I have a bullish bias, but this isn’t a market where buyers are piling in.

I’m treating A to C as a range and will buy from around C.
If price breaks below C, I’ll switch to selling.

Review

Price dropped out of the range.

Early on, I bought on Scenario B, but price got dragged by USD/JPY’s move and dropped sharply for a moment.
When it then started turning down (making lower highs), I exited. 10 pips

After that came a bearish shift, so it’s wait and see.