GBPJPY Gearing Up for a New Bullish Wave?If we were to describe GBPJPY at this moment, it would be the picture of a market gathering momentum to climb higher . After a mild pullback, the macro backdrop still leans toward further upside: the JPY continues to weaken as risk-aversion eases, while the GBP remains supported by a stable economy and higher interest rates . This combination forms a solid foundation for the current recovery phase.
Looking at the 4H chart, the uptrend is clearly intact with an ascending trendline that has been respected consistently since early November. Each touch of this trendline has triggered strong buying pressure — a clear sign that bulls are still in control . Most recently, price has bounced again from the 205.6 support confluence , aligning perfectly with the trendline and the nearest support zone.
With the current structure, the primary scenario remains bullish. Price is likely to consolidate slightly above the trendline before moving toward the 207.3 resistance — the next key target of the trend. If buying pressure stays firm, GBPJPY could even extend higher toward 207.8–208.0.
Only a break below 205.5 and a candle close under the trendline would threaten the bullish outlook. But for now, market flow continues to favor the buy side, and every pullback still presents an opportunity to observe the potential continuation of the uptrend .
