A short- to medium-term selling opportunity for the GBP/JPY pair

The GBP/JPY pair is currently moving in an upward trend on the 4-hour timeframe after breaking out of a sideways movement that represented accumulation.

The pair is expected to continue its upward movement towards the upper supply zones, which are currently considered the best selling points.

Expected targets

If the pair reaches the upper supply zones, specifically the first zone at 212.96, we expect to see a return to the downward trend, targeting the levels shown on the chart at 212.20 and 211.30.

If the price breaks above and closes above the first supply zone, we may see an upward move towards the next zone near 213.99, followed by another decline.