2026/07/14 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

For now, I see sellers in control, but this is a short-term scenario.
If price starts turning down (making lower highs) from around the current price zone, I want to sell.

Zooming out a bit, the 4-hour chart (H4) also looks like it may be forming higher lows.
With that bias, I think a short-term buy is possible if price breaks above the price zone marked in red on the chart.

A proper rally would only come after a break above the recent high around 217.3.

It’s a somewhat tricky situation where only short-term scenarios can be drawn, so it might be a good idea to look at other currencies too.

Review

It played out as Scenario A.

Went long on the pullback after price broke above the Line A price zone.

Right before the CPI release it started to look like a double top, so I took profit. 20 pips