2026/10/27 GBP/JPY Trade Strategy

Today's GBP/JPY call: Buy.

A slightly tricky situation. The 1-hour chart (H1) is ranging and leans toward selling, if anything, but the current flow is turning up (making higher lows), so my bias is bullish.
On the 15-minute chart (M15), I see it as a range from A to B, so it’s a question of buying from the bottom or buying after a break to the upside.

In particular, once price breaks above Line A, the higher timeframe can also be considered to have made a bullish shift, which makes it easier to buy.

Review

It played out as Scenario B.

Go long on the turn up (higher lows) near the bottom of the range, and close out where the move stalls at the range high.
You could also wait for one more wave and close after seeing it turn down (lower highs) or form a double top, but if the range continues, the profit margin often ends up smaller, so the decision comes down to weighing the possibility of a breakout to the upside.