GBP/JPY Potential Bullish Breakout – Key Levels to Watch:
📉 Descending Trendline Breakout Setup
The price has been in a downtrend, following a descending trendline.
It is currently testing this trendline with signs of potential breakout.
📊 Key Support & Resistance Zones
Support Zone (~187.5 - 189.0): Price has bounced multiple times from this area.
Resistance Zones (~192.5 & ~200.0): First target is around 192.5, then 200.0 if momentum continues.
📈 Possible Bullish Scenario
If price breaks the trendline and holds above 192.5, we could see an upward push towards 200.0.
The expected move follows the drawn path: breakout → retest → continuation.
⚠️ Risk Factors
If the price fails to break above 192.5, it might return to the support zone.
A break below 187.5 would invalidate the bullish outlook.
Overall, this setup suggests watching for a breakout confirmation above resistance before entering long trades. 🚀
