short-term GBPJPY long and short @ end of us election week
US election -triggered channel move up in Pound Yen after Hourly divergence in MACD consolidates for the last 12 hours. Two-way action due risk-on sentiment driving Yen with additional fundamental Support in the pound. From setup here there are on the upside confluences of recent swing 127Fib Ext , 78Fib R (September-mid-October swing ), and Daily R1. Downside 62Fib & Daily P. P and R1 are stop levels for Shorts and Longs resp & with 20 pip targets.