2026/10/23 GBP/JPY Trade Strategy

Today's GBP/JPY call: Sell.

My bias is to sell, but price has already dropped into a good price zone.
It may have already reached the target of this decline, so if you sell, you might need trade management such as exiting quickly on any downside stalling.

For now I’m going with a sell scenario, and I’m picturing price pulling back up to the range high around A.
I think it could also drop from around B, but the market isn’t in full momentum mode, so be careful.

Review

It was Scenario B.

The plan was to short once price pulled back to Line A, but I passed on the first touch.
If anything, there was a chance of a bullish shift here, so in the short term this was a spot to look for a long around the blue marker that followed.

Short from circle ①, where price dropped off the second touch.
After that it moved in waves and made new lows, but I exited when it bounced back sharply. 75 pips