2026/11/04 GBP/JPY Trade Strategy
Today's GBP/JPY call: Buy.
The question is whether it will correct for a while.
As long as it stays in the current narrow range, the bias is to buy, so if support holds firm I’ll be buying, but I think this is a fairly major key level, so I have a feeling it may dip for a while.
If it breaks below the range, I’ll look to sell on a day-trade basis, but the idea is ultimately to catch the short-term drop before it rises again.
Review
No trade.
I couldn’t catch the drop in the scenario because there was no retracement.
After that, price rallied after reaching the target at the blue marker, and that’s the rise I wanted to catch after the morning scenario.
A long from around the red circle would have been good.
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.
