GBP/JPY | 4H | British Pound/Japanese YenFX:GBPJPYTriple7Capital🇬🇧🇯🇵 GBP/JPY | 4H | Weekly Outlook — May 5–9, 2026 GBP/JPY has undergone a sharp and decisive rejection following a spike toward the 216.00 highs, leaving behind a significant bearish structure on the 4H chart 📉. The pair is currently trading around the 213.00 equilibrium zone — a dotted horizontal level that has acted as a key pivot across multiple sessions — and the path of least resistance this week appears to the downside ⬇️. The projected sequence shows a brief bounce attempt toward 214.577 before sellers regain control and drive price aggressively lower toward the 210.281 demand zone 🎯. This level is particularly significant as it aligns directly with a well-defined ascending trendline that has supported the broader bullish structure over the past several weeks 📐. A confluence of the trendline and horizontal support makes 210.281 a high-probability reaction zone. Key levels to watch 🔑: Resistance / Bear flag target: 214.577 — expected rejection zone before continuation Downside target: 210.281 — trendline + horizontal demand confluence Broader support floor: ~210.30–210.50 — critical structural level Invalidation: Clean break & close above 215.50+ On the macro front 🌍, two powerful forces are colliding on GBP/JPY this week. On the GBP side, the Bank of England held rates at 3.75% with only one MPC member voting for a hike — Governor Bailey citing an uncertain economic environment driven by geopolitical tensions and energy prices 🏦. This dovish hold has weakened the Pound. On the JPY side, Japanese authorities signalled that the timing for FX intervention is approaching as USD/JPY pushed above the 160.00 level, prompting investors to reduce short yen exposure ⚡. This combination of GBP softness and JPY strength creates a powerful tailwind for the bearish move projected this week. FXStreetFXStreet US NFP on Friday adds an additional wildcard — any risk-off response to the data could amplify yen demand and accelerate the drop toward 210.281 🗓️. 📌 Educational analysis only. Not financial advice.