There has been a major sweet spot for buyers between (08/07/2016) till (12/07/2016) a 4 day gap of consistent impulse in the trend. You also see a bearish
reversal as the impulse trends hit its peak, it has been 1 month for the down-trend to occur back to its potential stage of where the trend was on (08/07/2016). Whereas, if you refer the pair to its current stage in may cause a similar pattern to effect, you can see the potential double bottoms and double tops being put in place with the help of the performing wedge
. The kill zones are vital to avoid because within these 4/5 days of trading the trend will cause a bullish
reverse as the Yen is at its highest spot of power against the Pound. I have chose to long in the short term as I feel that it would reach the second bottom, giving an option to decide weather to repeat trade as the trend reaches its lowest stage.
Current point: 130.870
Starting point: 130.870
Exit point: 130.185
Profit target: 131.588