Strong Selling Opportunity Soon for the GBP/JPY Pair

The GBP/JPY pair is currently moving sideways on the 4-hour timeframe following its recent sharp decline.

The current movement still suggests the possibility of an upward move, targeting the daily supply zones and the overlapping supply zones on the 4-hour chart, which are among the most important and strongest expected selling points for the pair.

Expected Targets

If the pair tests the overlapping supply zones on the 4-hour chart, which are located near the 215.94 level, we anticipate a renewed decline, targeting the 215.20 and 214.30 levels, respectively.

However, this analysis and the expected decline from the supply zones will be invalidated if the 4-hour candle breaks and closes above the specified levels.