GBPJPY is stabilizing after the recent pullback from the 214.30 resistance, with price now compressing above the rising trendline and the 211.50 support. The prior impulsive leg remains intact, and the correction so far looks controlled rather than aggressive, suggesting distribution has not taken over. Despite recent sell-off, buyers continue to protect higher lows.If the market maintains acceptance above 211.50, it might attempt another upside rotation toward 214.29, where liquidity rests near the previous higher high. A clean reaction from support combined with renewed momentum could shift focus back toward the upper resistance zone.
➡️ Primary scenario: hold above 211.50 → push toward 214.29 resistance.
⚠️ Risk scenario: a decisive breakdown below 211.00 may invalidate the bullish structure and expose 210.00 support.
If this idea resonates with you or you have your own opinion, traders, hit the comments. I’m excited to read your thoughts!
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🔥 Daily GOLD and Forex updates with 20,000+ active traders:
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🚀 Daily CRYPTO setups:
bit.ly/3JIGE2j
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