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reubengallop01
Jan 13, 2021 3:01 PM

GBP/JPY Long 141.200 - Pound strength alongside technicals. Β Long

British Pound/Japanese YenFXCM

Description

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If we can see the pound reach 141.200 I will definitely be looking for a long position. 50 Fib level, 3rd trend-line touch clean B&R and also an SMA acting as support. The fundamentals behind this trade are - Gov. Bailey does not want to cut interest rates (strong for pound), risk on mood weakening the yen.
Comments
StewySongs
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You might want to consider zooming out to the higher time frame structure. ✌🏻
reubengallop01
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Thanks for the comment. Still in a nice uptrend and fundamentally I can’t see it coming too much lower. Will keep an eye out though... thank you πŸ‘
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