2026/08/31 GBP/JPY Trade Strategy
Today's GBP/JPY call: Sell.
Right now, the 4-hour and daily charts can still be called bullish, but price is turning down (making lower highs) and losing momentum, so I want to watch with a possible bearish shift in mind.
However, if price holds above line C and starts turning up (making higher lows), we need to consider another leg up.
This is a tricky price zone where both buyers and sellers are stepping in, so be careful trading inside the range.
Review
No trade.
As it turned out, price was capped by the blue line, so selling would have worked, but with the risk of a bounce off the pink support line below, it wasn’t a setup I really wanted to get into.
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.
