FX.co ★ KHALISA | GBP/JPY

GBPJPY H1 Timeframe Analysis - Bearishness Continues On the H1 timeframe, the current GBPJPY trend structure remains strongly bearish and quite clear. The price is consistently moving below the 50-day Moving Average, which acts as strong dynamic resistance. Furthermore, the Bollinger Bands are starting to widen downwards, indicating increased selling volatility and maintained downward momentum. In terms of momentum, the MACD indicator (12,24,8) is in negative territory with a deep histogram, reinforcing the continued dominance of selling pressure. As long as this condition persists, the best option is to continue looking for selling opportunities and avoid buying against the trend. An interesting area is the Drop-Base-Drop zone, which has formed very neatly around 208,620. This zone previously served as a consolidation area before a strong breakdown, making it an ideal waiting area for a sell re-entry if the price pulls back or retests. For risk management, a stop-loss can be placed several points above the supply zone, specifically at 209,561. This provides sufficient safety against false breakouts. Meanwhile, the profit target can be adjusted gradually, with TP1 at 207,678 and TP2 at 206,737 as the next extension target. The key confirmation remains simple: as long as the price fails to rise and close above the 50-day moving average (MA), the downtrend remains valid. A trading plan to consider is to wait for the price to first enter the demand area at 0.8577 without rushing into a position. Once the price reaches that zone, the next focus is to observe the price reaction and momentum development. Additional confirmation can be obtained if the MACD histogram moves upward again and breaks through the signal line. If these conditions are met, the buy opportunity becomes more attractive because the position is based on momentum confirmation and remains in line with the main bullish GBP JPY trend.