GBPJPY this coming Thursday will get interest cut for GBP, we may see 193.99 as 38.2% from 184.35 to 199.967, however after drop to 193.99 we will see strong rebound from this area, but if we still stay above 196.97 of this resistance area we will see more consolidation
GBP/JPY – Bullish Outlook, Just Waiting on the CHoCH
GJ is extremely bullish — price is respecting every level of my top-down analysis.
Before the current move, I was already anticipating bullish continuation through refined mid-timeframe structure. Price dropped, took out sell-side liquidity, and tapped into my 30M order block.
After that sweep, I dropped to the lower timeframes, patiently waiting for a clean shift in price.
Price did give a sweep at the lows of the 30M OB — now I’m just waiting on a proper CHoCH (change of character). Once I get that confirmation, I’ll watch for a final liquidity sweep into my LTF order block.
That’s the execution zone. Once it hits, I’ll target either 5M highs or 30M highs — all depending on how price delivers.
Until then, we wait. Patience is part of precision.
GBPJPY this coming Thursday will get interest cut for GBP, we may see 193.99 as 38.2% from 184.35 to 199.967, however after drop to 193.99 we will see strong rebound from this area, but if we still stay above 196.97 of this resistance area we will see more consolidation
