GBP/JPY 1H Analysis & Prediction (10/02/2025)

British Pound / Japanese Yen FOREXCOM:GBPJPY

FXFOREVER_87

📉 GBP/JPY 1H Analysis & Trade Plan
🔻 Bearish Channel in Play

Price is moving within a descending channel, rejecting key Fibonacci levels.
Supply Zone at 189.608 - 190.360 (strong resistance).
Price may test this zone before continuing the bearish move.
📊 Bearish Scenario:
1️⃣ A small pullback to 188.618 - 189.042 (FVG + Fib 0.618 - 0.786).
2️⃣ A drop toward 187.504, followed by further declines.
3️⃣ Next key support levels: 185.929 and 184.428 (final target).

💡 Trading Plan:
✅ Look for rejection at resistance before shorting.
✅ Confirmation: Break of 187.504 = Strong bearish continuation.
🚀 Bulls need to reclaim 190.360 to shift bias.

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source https://www.tradingview.com/chart/GBPJPY/d0OyS7SX-GBP-JPY-1H-Analysis-Prediction-10-02-2025/