GBPJPY Bullish Setup: Reversal Brewing a Key Zone

📈 **GBPJPY Bullish Setup: Reversal Brewing at Key Zone** 🔍

**Pair:** GBPJPY
**Timeframe:** 15m / 1H Confluence
**Bias:** Bullish (waiting for confirmation)

⚡️ **Key Technical Highlights:**

🔹 **1H Demand Zone** – Price is sitting inside a strong historical reversal area around **194.00–194.20**, where we've seen multiple prior bounces.

🔹 **Trendline Support** – Tapping a clean ascending 1H trendline that has held multiple times.

🔹 **Bullish Divergence (15m RSI)** – Momentum is shifting: while price made a lower low, RSI formed a higher low — classic divergence signaling potential reversal.

🔹 **Descending Channel Forming a Wedge** – Price action is coiling inside a falling wedge. Watching closely for a **bullish breakout** above channel resistance.

🔹 **Wick Rejections / Seller Exhaustion** – Repeated long wicks into the zone indicate sellers are losing steam.


🧠 **Bullish Setup Idea:**

✅ **Trigger:**
Look for a break above **194.80** (channel resistance + 0.0 fib)
Then a **higher low retest entry** near **194.40–194.50**

🎯 **Targets:**

* **TP1:** 195.28 – 195.50 (38.2%–50% fib + intraday resistance)
* **TP2:** 196.00 – 196.42 (78.6%–88.6% fib zone)
* **TP3:** 196.86 – 197.00 (full retracement + supply zone)

🛑 **Invalidation:**

* Break below **193.50 – 193.20** with bearish momentum
* RSI falling below 30 with strong bearish close

💬 Let me know if you're watching this level too — would love to hear your take!

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