📈 **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!
\#GBPJPY #Forex #FXTrading #PriceAction #Divergence #BullishSetup #SmartMoney #SupplyAndDemand #TradingViewIdeas
**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!
\#GBPJPY #Forex #FXTrading #PriceAction #Divergence #BullishSetup #SmartMoney #SupplyAndDemand #TradingViewIdeas
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.