2026/07/20 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
In the near term, the bias on the 1-hour chart (H1) is to sell, and my scenario also assumes a sell, but the daily chart is rising and the 4-hour chart is also showing signs of downside stalling, so from here I need to keep buying firmly in mind.
In the short term the flow is still to the downside, so if price can’t get above Line A, it’s a sell.
Review
It went down.
In the first half, price broke above Line A, so with a bullish bias I went long at ○1, where the lower timeframes turned up.
However, it couldn’t get past the recent high, made lower highs and dropped, so it was a breakeven exit.
The range high was the pink line one above Line A, remember.
After that, I went short at ○2, the retracement after the low was broken.
This was Scenario B.
I took profit where the drop stalled near the range low. 45 pips
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.
