GBP/JPY Long trade on h1 attention!

9. Aug. 2023

I've identified a potential bearish setup on the GBP/JPY currency pair. However, in the past few hours, the price has been consolidating and forming a double demand zone. This pattern has led me to reconsider my initial view. Right now, I'm waiting for an opportunity to go long. I'm looking for a reversal or bounce around the 182.70 zone. If the price confirms a move above the Point of Control (POC), I plan to enter a long position with a risk-to-reward ratio of 1:2. My target is to reach the last swing high at 183.26.