2026/05/20 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
It looks like the range low has shifted down one level from yesterday.
I think a drop is likely today, but for now I’m waiting for a retracement.
The yellow line near B, which was yesterday’s range low, might also serve as a guide for the retracement.
UK CPI is released at 3 pm JST (06:00 UTC), so I’ll probably get in after that.
Review
It didn’t drop, did it.
The morning scenario pictured a short-term retracement followed by another leg down, but price stalled for about half a day and built a floor instead.
Once it gets to this point, it looks like price has formed a 1-hour pullback right at the C line, so I switch my bias to buying if it starts turning up.
The setup would be to buy around the red circle, which is the pullback after breaking out of that cluster, and take it up to the range high around 213.6.
There was no entry point that matched the morning scenario, so this one is not counted.
This article reflects the author's personal view of the market. It does not recommend any specific trade; all investment decisions are your own responsibility.
