The market is heading in a forming a higher-low to lower-low formation. Last week the market closed at 4H horiantal key level @ 130.8.
Scenario: If 4H candle closes below 130.8, then we will take shorts half risk and will activate a sell limit in case of pullback @ 130.8 turning previous to resistance.
Scenario: If 4H candle breaks above the descending trend-line then our bias is applicable and we'll enter buys.
There is no volatile news for the pound or the Japanese yen on the economical calendar for this week, but keep an eye on corona news headlines. + Watch out for Boris Johnson statements about the UK lock down.
Risk ONLY: 2-3%