Price has shown reactions here both as support and resistance.

3 天前

📊 GBPJPY 4H Technical Analysis Overview:

The chart displays a well-structured range-bound market with price moving between key supply and demand zones, suggesting potential for both continuation and reversal setups.

🔹 Key Zones:

Resistance Zone (Supply): 196.300 – 196.700
Price has previously reversed from this area multiple times, indicating strong selling pressure.

Mid-level Support/Resistance Zone: Around 194.300 – 194.800
This zone is acting as a decision point; price has shown reactions here both as support and resistance.

Major Demand Zone: 191.700 – 192.200
Strong historical buying pressure from this level, likely to act as a key support if price drops.

🔀 Price Projections:

Bullish Scenario:
A short-term push towards the resistance zone could occur, testing the 196.500 region before any major move.

Bearish Scenario (Primary Projection):
If price gets rejected from the resistance zone, we may see a bearish reversal breaking through the mid-support zone and eventually targeting the lower demand zone (around 192.000).

📌 Outlook:
Price is currently approaching a critical resistance area. Watch for signs of rejection or confirmation before entering short positions. A clean break below the 194.300 support zone would validate the bearish continuation setup.

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