2026/08/28 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
Price is near the range high right now, but if it starts turning down (making lower highs) from here, I think it’s worth considering a sell.
If it keeps rising with the current short-term flow, the bias becomes bullish, in line with the flow on the 4-hour chart (H4).
Review
That was a tricky move.
In the first half, price broke through Line A without turning down (making lower highs), so the long comes at ○1 on that pullback.
However, since it hadn’t cleared the recent high and the rally was small, this wasn’t a pullback on the 1-hour chart (H1) level, and you need to be aware of that.
Then, right after slightly making a new high, price dropped sharply, and it ended in a breakeven exit.
If you were slow to get out here, there’s a good chance you’d have been stopped out a little below the blue line.
On the 1-hour chart (H1), this sharp drop looks like a pullback with a long lower wick, so I don’t see it as a bearish shift, but buying again is also difficult.
The expectancy for further upside is small, so there’s no timing that makes me want to enter.
On days like this, I think there’s no need to force it.
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.
