2026/07/09 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

With a new high, the bias is naturally to buy.
I’d like to wait for a pullback to the B line and buy, but when there’s strong momentum, price rises without forming a clear pullback.
I think it’s also possible that price gets support at the blue line and rises.
If the blue line is the support, the low may already have been made around 10 am JST (01:00 UTC) and price could rise from here… maybe.

If you’ve carried a position overnight from yesterday, hold it; if you’re entering from here, wait until the situation is clear.

Review

It was a range.

In the first half, I went long at ○1, where price was turning up (making higher lows) from the shallow pullback in Scenario B.
It briefly broke above the high, but came back inside the range, so I exited when it made a short-term bearish shift. 15 pips

After that, there was nothing in particular to do.