This afternoon I opened a long GBPUSD position as well in that, if the pair is indeed going to follow through on reversing north for a minimum of a day or two (or perhaps longer) 1.2680 appears to be an advantageous level, structurally speaking, from which I might be able to take advantage of the change in sentiment.
If GBPUSD happens to show signs of getting a second wind and heading higher, I might go back for seconds. But for now, I’m happy to pocket 12 pips worth of profit, having exited my position @ 0.2696.
I cancelled my eurjpy order. Very undecisive action in gbpusd today once more, hope we see some more action tomorrow or the day after (last time at which I will close this trade).
I got a buy order open at 1.2666 in gbpusd: pinbar on the 8h chart, targeting for 40 pips, same stop.
GBPUSD was rejected by support at the 1.2638 level on May 22nd and then again a second time on May 23rd. Good luck!