I have created this GBP/JPY short market idea due to the favorable technical setup observed in the chart. The currency pair has been trading within a downward channel and the previous high presents an ideal point of entry for a short position. The liquidity at the previous high, indicated by the volume profile, adds to the confluence of factors supporting this...
I would like to see SPY break the upper trend line of the down trend channel, test the same trend line as a new support trend line and then move up to 430 in a symmetric move with the latest swing just before the break
