Long Trades Preferred In GBPJPY Pair
Yesterday proved to be significant for the GBP. The actual data on the volume of borrowed funds in the public sector were even worse than expected, which led to the formation of impulsive moves.
During the day, JPY has rose for more than 280 pips against the GBP. Currently the pair is in a corrective phase, the current state of the market may continue throughout the day if a new low would not be formed.
It is recommended to create long orders in small volumes with the partial closure near the levels 186.02 and 187.08. The goal is near the resistance level 188.10. Also you should not forget about the short SL near the level 184.10
If the pair will be able to consolidate below support level 184.10, it is recommended to make the short orders with an aim to level 180.50. Partial closure near the level 182.62 SL with the transfer to no-loss zone.