The British pound has been an interesting place to be over the last several sessions, as I believe it is trying to form a longer-term bottom. While the upcoming Article 50 will probably trigger some panic selling, I believe that will be the final move lower. Because of this, we are starting to see strength in the GBP against many currencies around the world.
Today’s GBP/JPY signal
Risk 0.5%
Trade can be taken over the next 24 hours
Long Trade 1
Long GBP/JPY at current levels or as long as we are above 141.40
set stop loss at 141.35
take profit at 142
GBP/JPY analysis
The GBP/JPY pair has been climbing a nice uptrend for some time, at least over the last several days. The trendline below looks reasonably solid, as we have been “stair stepping” to higher levels.
