Bullish pound swing high longBritish Pound/Japanese YenFX:GBPJPYCiaranShorttFXThe triangle is compressing toward the apex. Price has pulled back from the 214.692 resistance high and is currently sitting at the 0.618 Fibonacci level at 213.416 which coincides with the ascending trendline support. The circled area on the right is exactly where your limit long should sit — the confluence of the ascending trendline and the 0.618 retracement is your level. The setup Limit long: 213.416 — confluence of ascending trendline and 0.618 Fib. Stop: just below the ascending trendline and the 0.786 Fib at 213.069. Stop at 212.95 giving approximately 47 pips of breathing room below the level. Stop distance: 47 pips