GBPJPY Ready for a Pullback from 208 Zone!

📊 GBPJPY 4H Technical Analysis (Wedge Pattern Forming)

• Pair: GBPJPY
  
• Timeframe: 4H
  
• Price: 207.70 (approx.)
  

📈 Structure Overview
Price is trading inside a rising wedge pattern. Both higher highs & higher lows are visible, but momentum is slowing down near the wedge resistance.

➡️ Resistance Zone: Around 207.90 – 208.20
➡️ Support Trendline: Rising support connecting higher lows
➡️ Possible Breakdown: Expected toward lower wedge support

🔍 Indicators
SMA 9 & SMA 20 are both below current price showing trend remains bullish,
but distance is shrinking → indicating weakening momentum.

📉 Bias: Bearish Correction Expected
Price is repeatedly rejected from the upper wedge, showing exhaustion.
A short-term pullback toward lower support is likely.

📌 Bearish Targets

• happens):
  
• TP1: 206.80
  
• TP2: 205.90
  
• TP3: 204.80 (if momentum increases)
  

📌 Invalidation
Bullish continuation only if 208.20+ breakout & close above wedge.